Price bounced ahead of Overnight Support, and continued moving to the upside in the morning session, followed by range-bound conditions later in the day. ES closed above the mid-point, and close to the Initial Balance High, which I view as indication of continued strength. As I mentioned last night, aside from being overbought and extended, I'm not seeing any signs of weakness yet. At the same time, everyone knows we're due for a pullback, so have to keep the risk on Longs fairly tight up here. I just want the market to resolve this "area" and move on. I don't really care if it moves up or down, just move already!
Rollover
Don't forget to rollover to the June contract (ESM10) tomorrow!
ES 5-Minute Chart
No comments:
Post a Comment
At the minimum, please provide your name or Twitter handle when posting comments. Do not post as Anonymous. Comments that contain links to commercial websites will be marked as spam.