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The Nightly Updates are sent out Sunday Evening to Thursday Evening for the following  day's trading session. This publication's primary focus is trading the index futures ($ES_F) and ($NQ_F). However, you can also use my nightly updates to trade the following ETF's (SPY), (QQQQ), (SDS), (QID), (DIA), (VIXY), and (DOG)

 

INTRADAY LOG FOR THURSDAY - JUNE 14, 2018

14 Jun 2018 09:10 am
Good morning. if this holds it will be yet another time where closing on the low lead to a decent sized higher open. It likely needs to take out 93.50 and hold up there and reverse yesterday's selloff from that area

14 Jun 2018 09:20 am
probably need to break back under 87.50-86.50 to get reversal or top which likely comes from those buyers stuck buying 92.50 area

14 Jun 2018 09:25 am
needs to hold over 88.50-87.50 and keep pushing a higher otherwise taking out 87 and holding under 89-90 after could be a top for a while.

14 Jun 2018 09:29 am
92.50-93.50 area should be sold if not going up to test or break 96 – update a little after the open

14 Jun 2018 09:31 am
should have high in place for a move to or through 87.50 area or more

14 Jun 2018 09:36 am
so far held 1 tick over 87.50-86.50 updated new key support area to hold and has to get over 91.50 or else still can start a pullback

14 Jun 2018 09:37 am
pop-up immediately turned down at 92 and in less 92.50-93.50 is taken out and able to stay up there for a change and go over 96 then should take out 87.50-86.50

14 Jun 2018 09:40 am
pressure on and should be sold two or below 87.50 as long as holding at/under the 92.50-93.50 area

14 Jun 2018 09:46 am
spiked under 87.50 and need to have a good run-up from 87.50-87 to have a chance of going over 91 again although should have trouble holding unless 93.50 broken with some gusto

14 Jun 2018 09:51 am
needs to get over 90 and hold or else bigger pullback so short under that level

14 Jun 2018 09:53 am
has to take out the 87.50-86.50 area soon and then hold under 88-88.50 after that for a good breakdown attempt to 84.75 and maybe lower

14 Jun 2018 09:55 am
pressure should stay on the downside holding under 88 area now

14 Jun 2018 09:59 am
88.50 would need to be cleared and then held on a dip and take out 90 with momentum to stick on the way up through 92.50-93.50, or else test or break the low area and 84.50 important before the 83 level again

14 Jun 2018 10:03 am
should hold the low on a pullback now but taking out 93.50 area and sticking very long should be hard at least first time up there – headed to 96 if it does not turn down at 93.50 area or lower

14 Jun 2018 10:07 am
91.50 new support that must told on a pullback from 94 and just above resistance

14 Jun 2018 10:13 am
holding over 91.50 and one more push higher will need to take out 94 and not turn right back down or else could break under 92-91.50 if that happens, or can't take it out soon

14 Jun 2018 10:16 am
the Dow cash has a triple top 27,352 it needs to clear along with 94.25 on the ES and order to keep this going strong and try to or through 96 or will pullback to or through 91.50-91 instead

14 Jun 2018 10:21 am
the VIX reached 12.05 and turned up and normally and up against this resistance should have at least a small pullback and if not then another pop higher with the VIX dropping under 12 can reverse going back above 12 and holding

14 Jun 2018 10:24 am
should be a top for a while at least if 91 is broken and that high area was the top of the Monday/Tuesday range and stalls and sold in that area a number of times – needs to be taken out and stick otherwise another top at this area could be termina

14 Jun 2018 10:28 am
with pullback holding and turning up at 91.25 and heading back towards the highs this has a chance at the 96 area and may be a tiny bit lower am pullback and see how that acts to see if it's going to try for the 2800 area instead of failing under tha

14 Jun 2018 10:30 am
while the quick rejection of that high area yet again should be top should be in place and bounces fail under that for further downside

14 Jun 2018 10:31 am
this is a short under the highs as a double top at the resistance should not be broken and held over, if so then only a slightly higher high gets sold. Should have minor support at 89.50 area that needs to hold/bounce or else better break

14 Jun 2018 10:35 am
the 86.25 low is also 50% retracement from yesterdays low up to today's high so far, and will need to bounce from above that back over 91 minimum to avoid breakdown

14 Jun 2018 10:39 am
87.50-86.50 prior resistance turning into new support area and taking out 86.25 without turning right back up should go to or 84.50 and could reach or break through 83-82.50

14 Jun 2018 10:40 am
if things get going hard on the downside. Has to take out 86.25 easily. 90-91 new bounce resistance should not be broken/held

14 Jun 2018 10:52 am
a spike to the 86.25 new support and 50% retracement giving a tiny bounce but should be broken if this does not get back over 89-90 and hold over 89 at worst after that and go up from there

14 Jun 2018 10:54 am
84.50 area next

14 Jun 2018 10:57 am
84.50-84 area reached and it will still be under pressure in a strong downtrend holding under 86.50 area

14 Jun 2018 11:04 am
easily took out the 84 level and reached 81 so far and a bounce from this area needs to get back over 84-84.50 and hold that area just to try to break a strong downtrend. Can go to 80.25 and last support before yesterday's 79 close and the 77-76 majo

14 Jun 2018 11:09 am
a quick drop-down pop from a test of the low, and now must hold 81 or else go to or through 78.50 and erase the inside day going so far after failing to take out yesterdays high after a 123 – double top at 94-93.75

14 Jun 2018 11:19 am
85 was reached but turned down and has been holding at or under 84.50 since then and needs to get over 85 again and stick over 84 for a better bounce attempt

14 Jun 2018 11:21 am
pop-up rejected at 85.25 that to 84 and must continue holding 84 in order to try for the 86.50-87.50 area for a bit higher, but if that is not taken out then the door stays open to test or break low area

14 Jun 2018 11:32 am
86.50-87.50 zone reached again and should go above 88 and hold 86 at worst to keep upside going strong otherwise could be a reversal from that area

14 Jun 2018 11:42 am
acting top-heavy right here but need to go back under 88-87 area and not get turned right back up again to turn the trend and not have one more little pop-up fail

14 Jun 2018 11:49 am
backing away from 89 but need a break back below 86.50-86 or another push higher but would be sold, should end up with a breakdown or pullback from up here

14 Jun 2018 11:50 am
86.50 first downside target and broken by much then 84 again

14 Jun 2018 11:51 am
refusing to break 87 at the moment, needs taken out or still sideways and a chance to pop-up another time over 90 before getting sold back to this area or 86.50 down to 84 instead

14 Jun 2018 11:52 am
over 89, and then would likely come back down to or through 87.50-86.50

14 Jun 2018 11:57 am
bounce off of 87.50 new support giving a pop-up that should test or break 90 and then likely come back to 88.50 area or a bit lower possibly

14 Jun 2018 12:03 pm
the ES does not like it over the 90 level now and unless broken and held for a move possibly to the highs it should be a decent pullback come from a hold hundred 90

14 Jun 2018 12:04 pm
should be short under that level with a stop at that 90 level and target of at least 86.50

14 Jun 2018 12:04 pm
it's going to need to break 87 though to break sideways/up uptrend at the moment

14 Jun 2018 12:06 pm
has a chance of reaching 90 but needs to do that and the next couple of minutes or else end up testing or taking out 87.50-86.50

14 Jun 2018 12:10 pm
sideways still, but if a poke over up over 90 towards 91 that gets reversed that should come back to 89.25-88.50 for support that needs held or possible reversal

14 Jun 2018 12:12 pm
almost to the 90 level but stopping just below so far and taking out 88 could be enough to get the downside going from here

14 Jun 2018 12:14 pm
could be a move back to or through 87.50-86.50, and if it is through 86.50, then 87.50-88 would need to be held under if going to keep pressure on to go to lower prices.

14 Jun 2018 12:16 pm
I need to be away until around 1:15 this afternoon, and may or may not be able to update depending... But will update ASAP if free and update necessary. Right now it's short under 90 down to 87.50-86.50 and probably more holding under 88 area after b

14 Jun 2018 12:49 pm
with the ES coming down to 86.25 and holding under 87.50 resistance should keep pressure on for a bigger move by holding under 87.50 area.

14 Jun 2018 12:52 pm
87.50 area important to get back above and hold up there, if not then next pullback support at 85.25 minor, and then back to 84.50-84 and maybe lower if that does not hold and give a bounce

14 Jun 2018 12:52 pm
back in a bit

14 Jun 2018 01:01 pm
further breakdown reached 85 so far and 84.50-84 should be tested or broken and if broken go to 83 area again where it must hold above the 81 low or else heading towards 78-76 area

14 Jun 2018 01:09 pm
made it to the 84.50 support /target and turned up and just made it back to 87.50 again and needs to go over that and stick or else pullback to 86.50-86 area and pop up again

14 Jun 2018 01:29 pm
with the ES getting close to the 90 level again it needs to push through and finally be able to stick, otherwise another reversal headed back to 88-87.50 and see if this uptrend can hold and have a chance rather than another move towards 85-84 or mor

14 Jun 2018 01:30 pm
if a move over 90 holds and gets momentum the 92.50 area should not be taken out or else a shot at moving to the double top over 94 and take out 96 from yesterday

14 Jun 2018 01:40 pm
90 not held very long which is bearish, and needs to hold 89-88.50 at worst and go back up over 91 and then the 92.50-93.50 resistance just below the high

14 Jun 2018 01:49 pm
The ES should stay under pressure holding hundred 90 back to 87.50 and if broken 84.50 area again or more

14 Jun 2018 01:57 pm
so far holding right at 88 and 88-87.50 needs held and then go back over 90 without turning back down and holding under again, otherwise another cross above and back below 90 could give bigger move than just to 88

14 Jun 2018 01:59 pm
89.75 rejected as the ES sure does not like it around 90 and should continue to be a good short under that level now. If it's broken then a move back under 90 would be a short on that but probably not going to see 90 again now

14 Jun 2018 01:59 pm
if we do it will take some work, and finally have the VIX going back under 12 and turning up from 11.92 coinciding with this bounce high

14 Jun 2018 02:00 pm
an excellent place for low risk shorting opportunity because you can use a tight stop with potential reward being a breakdown to or through 85.50-84.50 at least

14 Jun 2018 02:19 pm
a spike down to the 86.25 level popped right back up but turned down from below 89 and bearish under 88-88.50 area now on the way to Lord through 84.50-84 again, keep an eye on the Dow cash as if it gets much weaker the ES could go down with it

14 Jun 2018 02:22 pm
also, the NQ only average at new all-time high territory by a LOT, while S&P still about 85 points under its all-time high, the Dow about 700 points, and it is in a downtrend from its top – which looks important at the moment

14 Jun 2018 02:24 pm
the NQ would need to go back above 7312 area and stay up there,, but should have trouble getting over 7308 area and holding right now. Would need to go up with gusto and doesn't look like it has much of that left

14 Jun 2018 02:25 pm
with the ES make another lower low at 85.50 and turning up, it will be another failed bounce attempt unless 89-90 is taken out and not rejected instead

14 Jun 2018 02:26 pm
watch for this pullback to be bought either at 86 and if not then could make a lower low under 85.50 again and possibly reach 84.50-84 and then may be a bounce attempt

14 Jun 2018 02:32 pm
a slightly higher low on this pullback may be an attempt to base out in this area for a bounce of some sort, but not unless the 88 area is taken out and can keep on going through 90, where it could go above and back below again which would likely sta

14 Jun 2018 02:34 pm
should make another lower low and be headed towards 84.50 or more holding below 87.15 now

14 Jun 2018 02:35 pm
so be short with a stop at 87.50 as shouldn't get back to that resistance for this to break down to work through 84.50-83.50 area possibly lower low

14 Jun 2018 02:36 pm
keep an eye on the Dow cash still too as it should hold under 25,175 otherwise if that is broken above along with 87.50 then this turnaround around 2:30 could be more than just another feeble bounce

14 Jun 2018 02:38 pm
token lower low again with no follow-through but quick bounce like the others and still needs to go over 87.50 and order to attempt a better bounce and set of a feeble one that is hit with selling again before getting that far

14 Jun 2018 02:39 pm
another token lower low likely will be bought for a small bounce or more especially the 84.50-84 area gets reached and reversed up with gusto

14 Jun 2018 02:41 pm
could be a low made on that moved especially going over 87.50-88

14 Jun 2018 02:45 pm
the ES has traded inside of today's range made at the 10:05 AM top and 11 AM bottom, and if 87.50 is not taken out soon then another new low likely does not bounce back so easily – but does appear to be attempting a base for a little run-up but fai

14 Jun 2018 02:46 pm
87 bounce high and short with only a 2-3 tick stop and good profit potential holding under that updated resistance

14 Jun 2018 02:49 pm
with today's action it would just be a scalp trade with an entry around the middle of this range. Beginning to look better if 86 is not broken and the next couple minutes

14 Jun 2018 02:56 pm
pop-up turned down from 87.25 and just under 87.50 stop on the trade so a good low-risk entry and target is the 84.50-84 area and a chance it could breakdown this held under 84.50. Should not get back to 87.25 and stick now

14 Jun 2018 02:59 pm
you could hang onto part of your position if you're still in and didn't take profits at 84.50-84 but stop should be around 86.25 at most and target is a test or break of 81 and if no sign of turning to the 77-76 area

14 Jun 2018 03:00 pm
reenter on a bounce attempt if not short, it needs to come from this poke under 84 and failat or under 86.50 area now

14 Jun 2018 03:02 pm
headed towards the 77-76 area today or tomorrow if this continues acting this way and ends the day below 84 but not on its low for the day. Sentiment continues getting to bullish on all bounces

14 Jun 2018 03:05 pm
83-82.50 could end up being a 3 PM low and a bounce attempt began but it's going to have to do better than get back to 86.50. Still needs to go over at least 87.50-88 area and not back away if 86.50 broken through

14 Jun 2018 03:11 pm
3:05 PM reversal and that low will be an important low for the rest of the day and tomorrow morning if not broken. Still needs to take out 87.50-88 on this move, otherwise door open for another failure and decent pullback

14 Jun 2018 03:12 pm
84.50 should be important to hold on pullback now and quickly turned up or else headed back to work through 83 new major area for today

14 Jun 2018 03:18 pm
87 rejected and this pullback needs to hold 85-84.50 or above in order to avoid a test or break of the 83 area instead of another push higher that gets over or to 87.50-88 area

14 Jun 2018 03:22 pm
in the last 30+ minutes of trading the ES will still need to take out 87.50 and hold 86.50 afterwords or else end up heading back down to or through 83 before the end of the day.

14 Jun 2018 03:23 pm
if the ES does get back over 87.50 and can stick, then a run up to around 89-90 should be sold. If 90 is broken it should not be able to stay above very long, otherwise tomorrow mornings number sets up another good short opportunity with a toppy acti

14 Jun 2018 03:25 pm
enjoy the rest of your day. Check out tonight's update and then I will catch you here tomorrow before the open. until then take care!

 

INTRADAY LOG FOR WEDNESDAY - JUNE 6, 2018

06 Jun 2018 09:16 am
Good morning. I have a feeling that this will either just go down and fill the gap by touching 52.50 and then turning up, or run up to 57-58 before selling comes in

06 Jun 2018 09:23 am
I have on just a small short and not sure when I will add to it, but internal should be strong early and need to close that way to be overbought across the board except intraday. The VIX already at 12.22, and a reversal gives sell signals

06 Jun 2018 09:26 am
anyhow, it shouldn't take out 58 and stick very long or I am wrong and this might be much stronger than anticipated. Last week ES dropped 17-19 points under its range, and 17-19 points above the top of the prior range is at 59-61 if they happened to

06 Jun 2018 09:27 am
anyhow should see early pullback and then another bounce attempt

06 Jun 2018 09:33 am
should come down to the 54 area again and if a hold under 56.50 after that then headed to work through 52.50

06 Jun 2018 09:40 am
brought up from 53.50 made it to the 57 resistance and backed away and need to continue holding 54 in order to avoid topping out at least for a while

06 Jun 2018 09:43 am
57-58 is going to be a key area here with the Dow making a run up and stalling

06 Jun 2018 09:45 am
should be a top in place for a bit and especially taking out 54.50 and not turning right back up again

06 Jun 2018 09:48 am
should come down to test or break 54 and 52.50 if 54 cut right through and no reversal

06 Jun 2018 09:50 am
52.50 reached and filled the gap and needs to stay under 54.50 area if going to keep going lower to work through the 50 area next

06 Jun 2018 09:52 am
this should be sold around 53.50-54.50 area in order to stay in a weak position with pressure on from the top. Should not go over 56 and hold 55 after that

06 Jun 2018 09:57 am
bounce high at 54.75 and holding under 56 at the moment to go down to test or break the low area

06 Jun 2018 09:59 am
the VIX went to 12.01 and reversed up from a big extreme and the internals were +700 very early and would have everything at extremes, now a good top is in place at 57 resistance. Bounces should be sold and could be trend day

06 Jun 2018 10:01 am
taking out 50 and holding under that should keep going to or through at least 48-47.

06 Jun 2018 10:05 am
48.50 low so far and a hold under 51-52 area on a bounce keeps pressure on. Wants to come down to test or breakthrough 47-46

06 Jun 2018 10:07 am
everything pretty much came together for the 57 resistance to be an important top now and this could go a ways before seeing any kind of decent rally, but if we do it would only set up another good shorting opportunity

06 Jun 2018 10:13 am
51-52 resistance to get back above and hold over in order to be back in an uptrend. Taking out 48.50 and not turning right up needed to get a bigger breakdown from here

06 Jun 2018 10:21 am
pullback from the 51-52 updated resistance after it stalled there for 5 minutes but turning right back up from 48.75 and probably gets to 52 on this move if only a tiny pullback to 50 or higher turns up

06 Jun 2018 10:24 am
this 48.50 area will be the major support to break in order to break the bigger picture uptrend and 60 EMA. There is some resistance areas to short higher up, but if it's going to break down 48.50 area needs broken with some momentum

06 Jun 2018 10:32 am
downturn from 52.50 and again at 52.75 need to take out 50 and if no bounce 48.50 still key support and then 47-46. It's bearish under 53

06 Jun 2018 10:35 am
52.50 popped up to and sold and still short and need the Dow to break down, as it very close to a double top but backing away from it a bit.

06 Jun 2018 10:37 am
the 50 level continues to be bid and bouncing from there, need to take that out in an order to begin some breakdown. It's safe at the moment unless broken

06 Jun 2018 10:39 am
52.50 sold yet again but has a chance of popping through if 50 is not broken soon

06 Jun 2018 10:40 am
should not stick very long if it does though, 53 needs take out and held yet as 52-53 new resistance top to get through at the moment

06 Jun 2018 10:45 am
with this breaking down again from 52.25 this time it went through 51 but not 50 yet and that should be broken as long as 52-53 continues to be held under or sold into

06 Jun 2018 10:45 am
look to get short on any other pop up as this is going to have a breakdown

06 Jun 2018 10:50 am
needs to push down through 47-46 still and hold under 50-51 at most in order to do that and not a double bottom down here

06 Jun 2018 10:56 am
51 was just taken out and now should hold 50 in order to keep double bottom in place and try getting over the 52-53 area again

06 Jun 2018 10:58 am
52-53 being sold but should be only a small pullback in another run-up over 53 if this is going to stay strong

06 Jun 2018 11:02 am
pushed right through 52.50-53 and should hold 53 on a pullback in order to stay very strong, otherwise if the ES comes down and the Dow stops and turns down, it could leave a double top – for a short while

06 Jun 2018 11:12 am
there shouldn't be a pullback that takes out 53-52 without turning right back up, otherwise a top might be in for this run up instead of trying for 57-58

06 Jun 2018 11:15 am
will need to continue holding 54 at worst and have a shot at the 57-58 zone

06 Jun 2018 11:22 am
pullback on the Dow cash after a slightly higher high helped to move the ES around, and just reached 56.50 and a 123 top or double top a possibility. Still need to take out 53.50 and not get turned right back up again to break current uptrend

06 Jun 2018 11:27 am
well need to hold 57 and not go under and hold under that level or else pullback to 55.50-54.50 and may be lower

06 Jun 2018 11:39 am
very strong uptrend to the 60 level so far and this is a area where a reversal could come from and especially if 58 is broken and held under soon

06 Jun 2018 11:42 am
18 EMA on 1 minute chart is at 58 right now and was poked under one other time on the way up after taking out 52-53 so unless 58 area broken good uptrend still intact

06 Jun 2018 11:45 am
60.50 needs broken now and then hold on another small 2 point pullback or less in order to keep powering higher and not have a turn of some sort before attempting 62

06 Jun 2018 11:53 am
just took out support on 1 minute chart and will need to continue holding 58 at worst otherwise a bounce that follows should be sold into. If a breakdown of 58 gets momentum look for the 56-55 for some support

06 Jun 2018 11:59 am
58 reached and getting another run up and this time could see 62 area

06 Jun 2018 12:00 pm
if this action continues then the ES should be headed towards the 65.50-66.50 major area for today and not too far under 72-73 big time resistance up here

06 Jun 2018 12:06 pm
stop just under 62 twice will need to keep holding 58 otherwise there could be a high-end place for a while and a bounce that follows should be sold into.

06 Jun 2018 12:07 pm
a top right now it looks like although in order to get a downtrend bounces would need to start failing on the way through 58 on down under 57 and hold under 58.50 area after if pressure is on

06 Jun 2018 12:11 pm
just had a pop up with no follow-through come right back down and buyers backing away up there at the moment, however unless the ES goes back under 58 area it would need to get back up above 60 again soon after to avoid bigger pullback

06 Jun 2018 12:13 pm
as long as that 58 area holds buyers should stay in control and test the high area again or even a bit higher still possible

06 Jun 2018 12:14 pm
I will be away until around 1:15 but will update ASAP if necessary and available for a timely update. At the moment it's strong over 59

06 Jun 2018 12:39 pm
61.50 rejected again and should be a better pullback on this move to or through 58 as we had a reversal up on the VIX from 11.91 and should be giving some sell signals – taking out prior resistance at 58 is still most important however

06 Jun 2018 01:14 pm
there was a pullback to 59 held and bouncing back to the high and waiting here on the Dow to see if it can avoid a tiny double top and push higher and not go back under 25,015 again

06 Jun 2018 01:19 pm
token hire high at 62 should hold at or over 61-60.50 and turn up or keep going towards 65.50-66.50 area eventually and not turn out to be a potential top of some sort at least for a pullback

06 Jun 2018 01:20 pm
reaction is that of a top of some sort and should be at least a decent pullback

06 Jun 2018 01:22 pm
a drop from 62 down to 58.25 support should be sold around 60 or maybe a tiny bit higher and come back down and take out 58 area towards at least 57 before another bounce attempt

06 Jun 2018 01:25 pm
this bounce should be sold at 61 if it's going to have another pullback even if to a higher low instead of going back up to the high area or a token higher high before coming back down

06 Jun 2018 01:30 pm
for the rest of the afternoon the 58-57 prior resistance area will be new support that needs to be held at or above on pullback in order to keep the ES in a good uptrend bigger picture

06 Jun 2018 01:38 pm
ESS had difficulty at 62 all day and another move up to take that out and not quickly reverse could mean it could keep going towards 65.50-66.50 area this afternoon if trend up action continues

06 Jun 2018 01:49 pm
came back up to 61.75 and only backing away a small amount at the moment and needs a push over 62 where it has been stalling all day otherwise taking out 58 could cause a decent push lower

06 Jun 2018 01:52 pm
if they hold 60.50 much longer then a chance of going up over 62 but if broken then downside could get going again if only for a couple of minutes

06 Jun 2018 02:01 pm
will needs to bounce and take out 62 on this move or else a failure could end up with a decent pullback

06 Jun 2018 02:14 pm
token higher high but with such a thinly traded market there is no fast follow through and a very slow pullback that could continue if 61.50 is broken and then 61-60 also goes

06 Jun 2018 02:17 pm
holding up here keeping this in a grind higher trend up move since reversing up starting around 10:50

06 Jun 2018 02:21 pm
reversing as if no interest in Long's and up there at 63 and should be a high in place for a better pullback if this goes under 61 and sticks. If not another pop-up should also be sold into, although this has been a grind it out move and trend up mov

06 Jun 2018 02:26 pm
with this having trouble around 61.50 on the upside earlier, it's now holding that area and as long as it does it can keep on creeping higher to or through 65.50-66.50 by acting like this

06 Jun 2018 02:35 pm
just in case you still have a small short on, it's a good thing it's small because caught in a trend of move –probably the day before a decent shakeout. just puke it out here, or worse case stop at 66.75 maximum which probably gets hit before the d

06 Jun 2018 02:36 pm
take trades still going for the 65.50-66.50 area and possibly higher if this continues

06 Jun 2018 02:45 pm
if this keeps going vertical the 72 area would be the maximum upside otherwise it's parabolic and could come down pretty fast from that move once reversed

06 Jun 2018 02:49 pm
well the 68 area is going to be a top it appears unless is stays in a trend up mode and after a tiny pullback makes another higher high which would keep this in a parabolic move intraday

06 Jun 2018 02:51 pm
if the advance-decline stays at +700 where it is now many of my internal gauges will reach overbought extremes and the VIX has collapsed again all the way to 11.71 ! And is very stretched. Should set up for a good pullback on a close with those numbe

06 Jun 2018 02:53 pm
if this wasn't a trend up day and a strong uptrend I would be looking for a shorting opportunity again. The fix going by so 12.21 would be bearish especially bigger picture now

06 Jun 2018 03:00 pm
68.75 high so far and this pullback is needs to hold 66.25-65.25 area on a dip and turn up otherwise there could be a turn at 3 PM roughly to the downside. A trend up move continues unless a break under the 65 area now

06 Jun 2018 03:07 pm
small pullback holding and turning up at 65.25 continuing to grind higher and if this gets over 68.75 high it should be sold again for a small pullback at least, but then has a chance of moving higher towards 72 next which should be hard to get to to

06 Jun 2018 03:09 pm
well, I am going to dip my toe back in the water up here and again put on a small short and will be adding tomorrow with indicators being overbought most likely and sentiment stretched to the max. Should not get over 72 and stick tomorrow unless some

06 Jun 2018 03:10 pm
the high should be in for the day and especially breaking and holding under the 65 area

06 Jun 2018 03:14 pm
if this is going to stay strong at the end of the day, likely needs to hold 65.50-64.50 at worst and turn back up and make a run-up into the close. At the moment it looks like a pop-up should be sold into

06 Jun 2018 03:27 pm
trend up day got going around 11 AM and now has gone straight up and made a 123 /double topped at 68.75-68.50 at least at the moment but probably needs to take out 65 area end of day in order to break this vertical move after sideways action up here

06 Jun 2018 03:28 pm
would need to take out the double top and keep on pushing a higher, it's meaningful otherwise if this holds back under 67 without turning up right away

06 Jun 2018 03:30 pm
at the end of the day it looks like the double top should be important and if broken then a chance of a move up into the close however should be a breakdown of some sort instead of a bounce with all the internal gauges and sentiment currently stretch

06 Jun 2018 03:31 pm
if the market was too close with internals this strong and the VIX still around 11.80 or so

06 Jun 2018 03:34 pm
have a great rest of your day.I'll update this evening and then may choose here tomorrow before the open. Currently market very bullish but should be near an overbought "correction" – take care!

06 Jun 2018 03:47 pm
should be the start of the late day drop now, in a bounce should be sold and it's a good place for a short up here to start with at least 1/2 of a position up here over 66

06 Jun 2018 03:49 pm
double tops and double bottoms have been kind of common for highs and lows lately. This double top at today's high should be a tough one to get through and stick very long if it does. But really should hold under or possibly reach 72 and then come do
 

INTRADAY LOG FOR TUESDAY - JUNE 5, 2018

05 Jun 2018 09:10 am
breakdown beginning after this 47.50 was turned away and saying under 48 keeping pressure on. Target if you are still in this should be the 44.50-43.50 area and could be a bit more than that towards 40 if 43.50 happens to be broken also. Take care!

05 Jun 2018 09:18 am
good morning. We will see this morning if the ES likes it over 48 or not. It's going to be vulnerable and less it is cleared and held

05 Jun 2018 09:25 am
if 48.50 is cleared and holds 48 longer than just a few minutes, then a chance of going to 52 and then turning down most likely. The VIX is going to drop a little bit and a reversal should be a sell signal. I will update a little bit after the open

05 Jun 2018 09:36 am
first poke over 48 sold down to 45.50 and 45-44 needs broken in order to get a reversal of some sort this morning and 10 AM economic data but this strength should not stick

05 Jun 2018 09:39 am
still not holding over 48 yet except for a move over and back under and about one minute and needs to go back over and stay for longer than just a minute soon or start dropping

05 Jun 2018 09:43 am
might be its best chance of taking out 48 and holding, if the Dow gets turned up especially. Would need to hold 47 at worst on a dip

05 Jun 2018 09:46 am
is going to need to hold 48-47 or else a high becomes likely. Dow heading lower while ES trying to rally

05 Jun 2018 09:53 am
bounce from 47 needs to make a higher high and then stay over 47 in order to avoid a potential reversal. With this early strength it normally should be reversed around the 9:50-10:10 AM timeframe and top at 9:50 so far, need a break of 47 to try nail

05 Jun 2018 09:59 am
if a pop-up watch for 52 area and could come back down from there but would need to hold around 49-48 and turn up if it's going to keep the uptrend

05 Jun 2018 10:04 am
2 good economic numbers should reach 52 area before any kind of pullback and would need to hold 49 area at worst or else reversal only a 48 broken

05 Jun 2018 10:10 am
52-53 resistance so far stopping this strong run-up and a break and hold that under 51 could be a top in place but especially going under 49-48 area not much of a bounce

05 Jun 2018 10:13 am
should keep going down through 50 and hold under 51 in order to break down more and if the 49-48 area does not hold then the market would get in trouble

05 Jun 2018 10:22 am
reversal from 52-53 major resistance today at 10:09, but pullback so far holding 49.50 and just over 49-48 area which should be a new key support. Will need a move back over 51 with momentum, Not make a 123 or double top if broken

05 Jun 2018 10:25 am
a short what they stop under the top at 52.50 as that term came from a major area today and right at the 9:50-10:10 timeframe. the Vix went to 12.50 and turned up, a reversal there and even more going over 12.69

05 Jun 2018 10:29 am
attempting a turnaround from 49.25 updated support and has to get over 51 with some gusto still or else come back down again. Keep an eye on the Dow cash also. Needs a good bounce, not break its early low

05 Jun 2018 10:34 am
double top as noted possible but needs to come down and break 49 for a reversal or breakdown of some sort. Sell bounces appear

05 Jun 2018 10:37 am
breakdown under 51 then 49 and reached 47.75 so far and should keep coming to or through 45-44

05 Jun 2018 10:39 am
that is left 46-45 area that should be a support down here that must hold

05 Jun 2018 10:43 am
46.50 has been reached but unless it gets back above 48 area again and can hold over that level again, it's still under pressure and could make another push lower to test or break 45.50-45 closing range yesterday

05 Jun 2018 10:45 am
a double top reversal at 52-53 major resistance this morning and the 9:50-10: 10 AM timeframe, and the Vix turning up from 9.50, should be an important high now and bounces should not stick

05 Jun 2018 10:50 am
little pop to 48.25 immediately sold down to 46 and unless 48 broken and held above soon then headed to or through 45.50-45 closing range from yesterday. Might depend on the Dow down here

05 Jun 2018 10:59 am
that 49.25 level is now the 50% retracement and middle of today's range so far and should back away again from there or below if coming back token lower low around 45.50 close from yesterday

05 Jun 2018 11:02 am
49.25 bounce high on the pivotal level and backing away and depending upon what the Tao does here the ES at least should pullback to test for break 47 area

05 Jun 2018 11:05 am
not sure how far down this will go before finding bottom here but it stays under pressure under 49.25 right now, and 49.50 needs broken and holds 49 after in order to get turned up

05 Jun 2018 11:09 am
why I didn't limit the downside. Anyhow ES just reach 43 and will need to hold down here above the 40.50 area, or keep dropping down to around 37 area and fill the gap

05 Jun 2018 11:12 am
42-41 prior high area and breakout area yesterday key and then 37 under that and probably tested or broken if the Dow continues its current action and the ES doesn't take out 45 area without coming right back down

05 Jun 2018 11:15 am
could be going for the 47.25 area or a little higher

05 Jun 2018 11:20 am
about the will be pivotal area today, and right now it's the 47.25 level that is the middle of today's trading range, not looking as important as 49.25 but still important to take out soon or roll over again

05 Jun 2018 11:30 am
47.25 resistance and 47 bounce high as another 50% retracement sold and should go back to test 43.50 pullback low so far and needs to hold there or else keep going down to or through 42

05 Jun 2018 11:37 am
tested 42 and quickly turned up so with that as a potential double bottom of sorts if this can get back over 46 and hold,at least for a while

05 Jun 2018 11:41 am
all bounces failing after coming off of double top at major resistance and another pop-up should fail at or under 43-43.50 now and headed towards 37 and filled the gap

05 Jun 2018 11:42 am
37 should be a target on shorts taken on a bounce, even with this bouncing from 40.25 support. The way the market is acting so far that should be broken after this bounce fails and head down towards 37. Should not get over 44

05 Jun 2018 11:47 am
internals are now negative, so all of the near misses of reaching overbought extremes no longer there. The Vix though did go to 12.50 and reverse to give sell signals. It's still too complacent

05 Jun 2018 11:48 am
37 target area still at a minimum and 35-34 would be a major area today just below to hold or else a bigger breakdown/sell off at least until the NASDAQ cash averages go negative

05 Jun 2018 11:51 am
turned up with some gusto right into a short term dynamic resistance around 41.50 that needs taken out and if that happens then 44 next bounce resistance

05 Jun 2018 11:56 am
3.50 and 5.00 point bounces so far and both were 50% retracement's of the days range on those highs. Would be around 45.75 now, and would be a 6.75 point bounce and break bounce high symmetry

05 Jun 2018 11:58 am
another bounce that has stalled out and these have been rolling over so beware of another drop if this continues holding under 42.25 much longer. If it gets through that level instead, then a chance at the 44-45 area or a bit higher

05 Jun 2018 12:11 pm
quick move up from 39 a double bottomthat needs to hold now and will need to call 41 on a dip in turn up if going to get to or through 44-45 bounce resistance for now

05 Jun 2018 12:14 pm
I will be away until around 1:10 but will update ASAP when possible if an update is necessary, although I will be on several phone calls today that could delay how long. For now we should start to see some two-sided action and 45.75 the midpoint area

05 Jun 2018 01:17 pm
the ES is back and rally mode and just about to the 48 area and needs to hold around 46.50-46 or else a bounce high should be in place for a bit

05 Jun 2018 01:22 pm
if the trend is going to stay up then the pullback needs to bounce from 46-45.50 otherwise this high could be an important one for a while

05 Jun 2018 01:30 pm
after reaching 47.75 and stalling so far only a small pullback to 46.25 so far in instead of a sharp move lower so uptrend still in tact and needs to take out 45-44

05 Jun 2018 01:34 pm
ES is still under pressure and still could have a decent drop off of this 47.75 high to the 45-44 area and maybe more if it gets going and our rollover

05 Jun 2018 01:39 pm
but ES and Dow are basically making the same patterns is now with the ES a little bit ahead at the moment, and need the Tao to bounce back over 24,800 and the ES over 48 in order to get a move up closer to the highs

05 Jun 2018 01:49 pm
a quick turn up from the 45.50 and just above 45-44 updated support and still needs to get over 48 or else can come back down to or through 45.50

05 Jun 2018 01:51 pm
if 48 is taken out instead, then beware of 49.25 for a potential turned back down and if not then 52-53 could be in the cards again and plenty of time to go up there again, but doubt it right now

05 Jun 2018 01:59 pm
at the moment the ES is back in a range between the 46.50 low end and 48 the high end and unless the high-end is taken out this stays vulnerable for further breakdown

05 Jun 2018 02:02 pm
should be a short with this holding under 47 area now down to at least the 44 area

05 Jun 2018 02:03 pm
the pressure will be on even though another day with the rather small range of only 13.50 points so far, if the Dow gets going on the downside again then the door stays open for a break of the double bottom

05 Jun 2018 02:10 pm
pullback so far turned up from 45 updated support and bouncing a bit but still under pressure unless a move back over 48 and a small pullback after that

05 Jun 2018 02:13 pm
bounce should get close to 48 and then fail again the way this has been acting, unless the Tao gets turned up and starts a decent moves towards its high of the day

05 Jun 2018 02:14 pm
they have to get over 24,800 and hold up there, along with ES able to hold 47.50-47 area after reaching 48

05 Jun 2018 02:16 pm
should be bought on another dip as the Dow caught a second wind also, and this should be heading towards 49.25 where it should have some trouble or else it could be testing for breaking 52-53 area again, without it gets that far on first try

05 Jun 2018 02:18 pm
48-47 area should be good support on a pullback from 49.25 or lower now if this is going to stay strong

05 Jun 2018 02:33 pm
needs to continue holding 48 to push higher and avoid possible reversal of some sort while stalling here. Resting to push higher

05 Jun 2018 02:35 pm
49.25 needs to be taken out, in this small range today that has been pivotal as a breakdown area and also as a high earlier. Needs broken and hold 49-48.50 after

05 Jun 2018 02:36 pm
looks like a short under the 49.50 level for now

05 Jun 2018 02:38 pm
it's against the trend but there was just a pop-up and reversal down from the 49.25 area and could be breaking 48 soon if there is going to be a breakdown

05 Jun 2018 02:38 pm
if hope the above again then another little dip will need to hold around this 48.50 hold back low and not go to 48 level

05 Jun 2018 02:40 pm
that SHOULD be a top. Stops not hit and should take out 48 soon in order to get that break down or pull back of some sort, but probably would end up holding 48 and bouncing back the way it's looking

05 Jun 2018 02:42 pm
wants to hold 48 it appears and if that is the case then another push higher could be coming if turning up one more time

05 Jun 2018 02:47 pm
should be able to nudge higher if nothing else as long as this doesn't come back down through 48.50-48 and stick, the way the market has acted on most days a shot at a new high would be in the works. Double top and double bottom today. That 52.50 are

05 Jun 2018 02:56 pm
so nudging higher and now should keep going as long as the 49 area holds and is not too far from the 52-53 area where there should be some selling again but if not then this could extend up towards the 57 area next but not stick if reached. 52-53 sho

05 Jun 2018 02:58 pm
the internals are getting a little stronger and possibly to where my internal gauges could be at or near overbought territory, and the mix is back down to 12.55, just above its early low after going up to 13.34 at 11:45 and reversing at the first low

05 Jun 2018 03:08 pm
tiny pullback so far holding the 49.50 level and shouldn't go under 49.50 or could be a bigger pullback may be towards the 48 area or lower. Very close to numerous red flags and have one already

05 Jun 2018 03:10 pm
in order to have a chance at the high the ES needs to keep holding 49.50-49 area at worst and turn up and take out 50.75 bounce high otherwise may not get there and end of day pullback could happen for a change

05 Jun 2018 03:16 pm
any kind of bounce now should fail and taking out 47-46 could mean the move picks up some steam and pushes the lower towards the lows if the Dow roles over harder than it has so far and takes out 24,795 and then holds under 24,805

05 Jun 2018 03:19 pm
if the internals continue to erode then I may not end up getting overbought extremes and this could mark a top. Same with love VIX going to 12.50 again and trying to reverse now. Ideally a firming into the close but worth holding small shorts just in

05 Jun 2018 03:23 pm
NYSE advancing stocks minus decliners currently around +500 and ideally is a little bit stronger, and the Vix reaching 15.50 again, late day top should be in place and any bounces should be sold as long as the ES takes out 48.50-49 area and holds 48.

05 Jun 2018 03:25 pm
45-44.75 is halfway back down and should be tested or broken on this move and possibly 43 area or more

05 Jun 2018 03:26 pm
if short look for all more push a lower as long as this bounce holds at or under 47.50 area on a bounce attempt

05 Jun 2018 03:38 pm
47.50 was broken however if the ES turns away from 48.50 and comes back down under 47 then this uptrend changes to a downtrend again and could take out 46 in that case before end of the day

05 Jun 2018 03:41 pm
look for this to come down to 47.50 and if a bounce then it has one last chance for a token higher bounce high otherwise it's going to go right down to or through the 46 area

05 Jun 2018 03:42 pm
should keep coming down and right now with the internals deteriorating probably won't be at overbought extremes however sentiment will be there for close. At least have something short, either put options or inverse ETF and will either add or take pr

05 Jun 2018 03:44 pm
at the end of the day the ES will need to hold over the 45.50 close from yesterday in order to stay in decent shape. – – –Have a great rest of your day!

 

INTRADAY LOG FOR MONDAY - JUNE 4, 2018

04 Jun 2018 09:11 am
Good morning. the ES is going to open around the 41-42 major area and if taken out it could be going to test 47-48

04 Jun 2018 09:23 am
not so sure that this gap up open is going to hold and if it does not then any pullback should hold around 37-38. But if it can hold and run up early 47-48 possible

04 Jun 2018 09:24 am
I will update a little after the open but should see this early strength sold and a decent pullback bought

04 Jun 2018 09:32 am
will need to take out 41 and hold under 42 to turn this down, or could go to 47 area

04 Jun 2018 09:36 am
47-48 or just below before a reversal that needs to hold around 44 area or possible reversal under 42-41 prior resistance

04 Jun 2018 09:40 am
47-48 reads and must hold over 45 or could be reversing

04 Jun 2018 09:48 am
has to stay above 48-47 or bounce from 47 if going to reach the 52-53 area this morning. if broken then a bounce after should fail

04 Jun 2018 09:57 am
a quick upturn from 46.50 and needs to take out 49.50 and hold 48-47 if going to make 52 area instead of going to or through 46-45

04 Jun 2018 10:01 am
topping out up here

04 Jun 2018 10:03 am
should be a high in place in a short for a breakdown to or through 46-45 before a bounce, or acceleration lower

04 Jun 2018 10:07 am
45.25 read so far but 49.25 double top sshould be held under and sold below on bounce attempt and come down to Lord through 44.50 on the next push lower

04 Jun 2018 10:09 am
the Vix reversed up from 13.14 after early sharp drop and bearish right now too. With 43 being reached should hold under 46.50 as strong resistance now

04 Jun 2018 10:11 am
46.50-47 pivotal area should not be broken, headed towards 42-41 and 41 area he support before into the 30s around 38

04 Jun 2018 10:15 am
stalling and could pop up a bit but not take out 46.50-47 and stick and less heading for the high area

04 Jun 2018 10:23 am
need to keep going up through 46.50-47 area and hold up there if going to have a pullback low in place and test or breaks through 46-47 area

04 Jun 2018 10:28 am
bounce fell shy of 46-47 at 45.50 level but needs to at least take out 42-41 in order to get a good downtrend possible as it's just a 6.50 point pullback so far

04 Jun 2018 10:30 am
almost to the 42-41 area and going through 41 needs a quick reversal otherwise continue to or through 39

04 Jun 2018 10:36 am
almost completely reverse the gap up open with a 10 AM turn came back to 40.50 and just above opening range, a hold at or under 43.25 should keep pressure on for one more push lower. Could go back up to 46-47 area otherwise

04 Jun 2018 10:42 am
stair step down pattern and needs to take out 43.50 and not turn right back down and needs to make a lower low soon otherwise getting over 43.50 becomes likely

04 Jun 2018 10:46 am
need to have a small pullback hold 42.50 and make another upturn for a chance of breaking stairstep down on the 5 minutes chart going back over 45.50

04 Jun 2018 10:50 am
stays bearish unless 45.50 is broken at the moment. And needs to take out 40.50 pretty soon otherwise another move up should take out 45.50

04 Jun 2018 10:54 am
sideways action coinciding with the same on the Dow, is holding the 42-41 area as a new support but not getting much of a bounce yet and 45.50 should be taken out in order to get another leg higher possible

04 Jun 2018 10:55 am
45.50 reached and not try right back down that is. Needs broken through and held on a small dip after

04 Jun 2018 11:04 am
45.50 broken by a tick and turned down and a bounce high in place taking out 43.50, bounces should then fail instead of choppy slow grind higher

04 Jun 2018 11:11 am
good offers on the bounces so far since turning back down from 45.75 bounce high broke the stair step pattern and now needs to stay under 45 to keep pressure on downside to test or break 42-41 zone and maybe a 40.50 if air pocket but doubtful right n

04 Jun 2018 11:16 am
way the market acting this morning we should get a decent bounce from 41 but have a hard time getting over 42.50 before getting hit with another quick drop

04 Jun 2018 11:21 am
should be about to break down taking out the 40.50 area and not turning right back up or just holding under 42.50 area Most right now

04 Jun 2018 11:21 am
the internals were strong enough this morning to put a couple indicators into overbought territory, and the fixed dropped down to 13.14 and that's short-term extreme also. happened along with ES making double top 49.25 reversing on time at 10 AM. sho

04 Jun 2018 11:25 am
39.50 needs to give a good bounce if reached otherwise down to the 37 area which would fill the gap on the daily chart from Friday's day session high

04 Jun 2018 11:28 am
expect another pullback to be bought with this bouncing from 40 and 1 tick over the 39.75 days session low and 2 ticks under the prior swing low

04 Jun 2018 11:35 am
there has been 3 decent pullbacks happening over about 10 minutes, around 15 most in a couple of quick 1-2 minute drops, while the upside has been more of a slow grind met with those quick reversals. So would still look for selling decent bounces, es

04 Jun 2018 11:48 am
we have two-sided action trading in the first 15 minutes range and still with the 45.50 area to get over and not get turned right back down from on this move up and if not then down to or through 42 opens the door to 40-39.50 or lower

04 Jun 2018 11:58 am
you might want to keep your eye on the Dow cash, going sideways with but ES and a range where pop-ups should fail and pullbacks bought around the highs and lows of this range from 45.50 area to 41.50 area. Although buyers in control.

04 Jun 2018 12:04 pm
buyers have driven the NQ up to new all-time high territory all by itself and well above its previous intraday high made on 3/9. unless it reverses back under 7119-7116 area, the rest of the market should avoid breakdown and ES hold instead of break

04 Jun 2018 12:14 pm
ES turning down from the 44.75-45.75 area and bouncing from 42 level 3 times while going sideways, so unless 42 broken market should get bought on another dip and then into a pop-up after that again

04 Jun 2018 12:20 pm
45.75 area sold into, but not much and unless 42 broken on a pullback from up here it that you will stay strong with a chance of getting over 45.75 soon

04 Jun 2018 12:22 pm
45.75 just taken out and now as long as 44 area holds the ES will stay in strong position. Also keep an eye on the Dow cash holding 24,807-24,802 area. Breaks its sideways channel in case taken out. At the moment headed towards the high and if goes t

04 Jun 2018 12:24 pm
I will be back around 1:15 but will update ASAP if necessary and not on the telephone today. pullback should come from around 47 if it is going to pull back but that break and hold back under 45-44

04 Jun 2018 01:32 pm
the ES has been holding 45.50 prior high area and little breakout area and must hold or else headed back towards 42-41

04 Jun 2018 01:34 pm
buyers were in control but now sellers have the upper hand with this breakdown and a short under 45.50 area

04 Jun 2018 01:37 pm
at or below that 45.50-46.50 area should be sold and come back down to take out 44 on the way to or through 42 area

04 Jun 2018 01:41 pm
the Vix went down to 12.94 and reversed with prices giving sell signal and that is that an extreme going under 13 area and most it should go this week would be down below 12.50 but doesn't look likely today unless narrow range and rallies late day

04 Jun 2018 01:50 pm
should be ready to roll over further in this slow motion action until there is a breakout on one side or the other and taking out 44 should go to the 42 or lower

04 Jun 2018 01:53 pm
the Dow cash is beginning to break down a bit on its low of afternoon and if the ES follows it could come back to the 42-41 area or more before another descent bounce attempt possible

04 Jun 2018 02:11 pm
a small pullback in a small trading range today and this 45.50 level could be pivotal and unless broken/held could go back down to or through 43.50 – probably through if it goes that far to test or break 42-41 zone – then 40-39.75 day session low

04 Jun 2018 02:14 pm
should not go back under 45 or else would likely be reversing back down and instead of being just a pullback on the way up to or through 47-48 again

04 Jun 2018 02:15 pm
buyers in charge again holding 45 but not too much higher or longer if this stalls out

04 Jun 2018 02:22 pm
such a narrowly traded day with a few decent drops and one very choppy rally off of the 11:25 turnaround from the 40 level. This bounce should also have a hard time holding on another pop-up, should be at least a small pullback with the Dow dragging

04 Jun 2018 02:31 pm
with the Dow rolling over again to its low of the day, the ES should follow but is basically going nowhere until the NQ makes its next move and should be on the downside

04 Jun 2018 02:38 pm
the Dow is beginning to pull back quite a bit below its early low while the other averages are still hanging in there but the ES likely heading down soon unless the Dow suddenly does a U-turn back up

04 Jun 2018 02:44 pm
44.50 held for a third time and while the Dow is trying to get its footing, and must hold 44.50 and take out 46 soon with some gusto if heading towards the highs and not staying in this range even longer

04 Jun 2018 03:03 pm
with the Dow up back upit should help help move the ES back up towards its high which was just missed so far reaching 47.25 but should take that out and also the 47.75 1 PM bounce high if this can hold around 46-45.50 area and turn up they are or hi

04 Jun 2018 03:12 pm
this currently at the 47-48 resistance, which the ES did not stay above very long after being broken this morning, and after double top. Any pullback needs to hold 46.50-46 otherwise it begins getting top-heavy and bigger pullback instead of late da

04 Jun 2018 03:15 pm
pullback turning up from 46 updated support to keep this move going still and that will need to hold in the last 45 minutes in order to keep the rally going possibly up towards the 52 area although maybe not today

04 Jun 2018 03:19 pm
48.25 immediately turned down but so far holding 47 and 46 needs broken to have some sort of late day drop instead of holding on to the upside

04 Jun 2018 03:23 pm
top of some sort in place unable to hold over 48 again and unless it does at the end of the day here, odds are better for more pullback and possibly come down to or through 46-45.

04 Jun 2018 03:29 pm
market has run out of steam up here and do for some pullback at least, and should be a bounce high as long as 48 is not broken and actually able to hold for longer than 1-2 minutes

04 Jun 2018 03:30 pm
if it DOES take out 48 and stay up there very long, it would likely squeeze shorts but instead has given an opportunity to put more on

04 Jun 2018 03:34 pm
in the last 30 minutes the ES needs to either take out 48 area and hold up there more than a couple minutes to get a bit more on the upside, otherwise pullback will continue and at least test and likely take out 46-45.50 area

04 Jun 2018 03:35 pm
they moved back above 48 and not turn right back down then short covering up towards 52 is a possibility, but not great odds today but possibly tomorrow morning. Has to take out 48/hold first.

04 Jun 2018 03:36 pm
have a great rest of your day. This should say under 48 and would be a good short with a stop just above at around 48.50-48.75 at most and though for a decent sized and of day pullback

04 Jun 2018 03:37 pm
have a great afternoon and evening! I'll update this evening and then meet you here in the morning before the open. Please read tonight's update. Take care!

04 Jun 2018 03:47 pm
breakdown beginning after this 47.50 was turned away and saying under 48 keeping pressure on. Target if you are still in this should be the 44.50-43.50 area and could be a bit more than that towards 40 if 43.50 happens to be broken also. Take care!

 

INTRADAY LOG FOR THURSDAY - MAY 31, 2018

31 May 2018 09:07 am
Good morning. I have voice software reinstalled, but still want to only update when there is something that looks about to happen. Sell bounces

31 May 2018 09:19 am
Minor area at 18 needs to bounce back over 22 and then 27.50 or could be in some trouble

31 May 2018 09:30 am
pressure stays on holding under 20-21

31 May 2018 09:32 am
could go through 18 but will need to hold and not pop right back up with gusto taking out 20

31 May 2018 09:34 am
it was 15 not 18, anyhow a quick spike down and rebound to a neutral area right now just under 20 and needs to take out 21 area and stick

31 May 2018 09:37 am
double bottom but still under pressure under 20-21

31 May 2018 09:43 am
should hold under 20-21 if going to go to the low or lower

31 May 2018 09:44 am
A short under 19.75 down to or through 15.50 or more

31 May 2018 09:45 am
12.50 area under that

31 May 2018 09:49 am
has to get over 19 and stick an order to have a possible low and place but if turned away again and 15 broken going towards 12.50 area

31 May 2018 09:51 am
should be pushing lower towards 12.50 area or more if this can continues holding under 16-16.50

31 May 2018 09:54 am
pullback from 16.25 must make a lower low and then hold under 16.25 oracles could start a bounce in this timeframe sometime soon here

31 May 2018 09:58 am
has to get over 17 and stick or going back to the low area is a possibility but if 17 taken out and held then could be a low in for a bit at least

31 May 2018 09:59 am
17 the key area and short under it

31 May 2018 10:05 am
kind of a messy chart but right now but unless 18 area broken and then hold at 17 and turn up quickly to get turn up. A short otherwise down to 12.50 or more

31 May 2018 10:07 am
12 met easily and now it's the 2708 area that would be a minor area a turn could come from

31 May 2018 10:16 am
should hold 15-14 on pullback and turn up if they load in place which it could be for a while, a pop-up from their likely anyhow

31 May 2018 10:16 am
if not then back under 12 again before a bounce

31 May 2018 10:19 am
so far holding 15 and 14 should be a key and pivotal area, must take out 17 oracles those could be broken before another bounce

31 May 2018 10:23 am
tiny bounce from 14 which is kind of pivotal so far and in less 17 is taken out on this bounce it could be tested or broken on another pullback

31 May 2018 10:32 am
bounce from 12.50 has been in a very choppy downtrend and tiny range so far, need to take out 16-17 and hold 16 in order to get a better bounce going and a low and place for a while

31 May 2018 10:36 am
it is still a short 16-17 zone and would go for a couple of points in this choppy action. It's only about and 8 point range but could open up making double that on a breakdown that sticks

31 May 2018 10:38 am
if a token lower low is not quickly turned up then going towards 2708 area

31 May 2018 10:44 am
should be going to lower lows and potential move to 2708 area holding under 16 at the highest and 14 pivotal area right now keeps pressure on

31 May 2018 10:49 am
at a new low and if short look for a move under 10 to take off 1/2 and a stop at 14 or break even at the moment on the rest

31 May 2018 10:50 am
could bounce from 2708-2706.50 area, but new resistance now at 11.50-12.50 to clear and hold

31 May 2018 10:52 am
bounce from 2707 support would need to get back over 2711-2712 or else still in a downtrend and another push lower should come from that area if reached back to test or break the low

31 May 2018 11:00 am
made it up to only 2709.25 and has to at least get over 11-12 area and stick to get into neutral territory down here otherwise another token lower low would need an immediate turn up from 2706.50 worst or else a shot at 2702.50 area

31 May 2018 11:06 am
will need to turn down from 12.50 or lower back under 11 and stick if going to test or break the support that 2707, but looking like it could be the start of something if a pullback holds over the low

31 May 2018 11:10 am
pullback from 12.50 need to break through 11 and then hold under 12 at most after if going down and set of another push higher over 14 area again

31 May 2018 11:15 am
pullback from 12.75 can go down to 10.50 at most and hast to turn up and take out 12.75 or else back towards the lows or a bit above possibly

31 May 2018 11:22 am
11-12 resistance to clear/hold or go to or through 2707 low at support

31 May 2018 11:24 am
if a double bottom or a 123 bottom with a quick reversal up from 2707.50 back over 11 could be a low place but if not then still a short on on bounces that stall out or reject updated resistance or even without getting that out in time

31 May 2018 11:31 am
both the Dow and the ES broke out with some gusto to leave the Dow and ES with what should be good lows in place now and this pullback from 16 area should bounce from 13-12 in order to stay range bound at the moment

31 May 2018 11:34 am
bounce from 13 well be sold around 16.50 or just a little under and come back down towards 12.50 or a little more afterwords

31 May 2018 11:40 am
pullback and upturn from support@12.25 took out 16 and just matched its early high and now has the 18-17 area that needs held or else could go into a trading range

31 May 2018 11:41 am
a move over the highs at 19.75 could go to 21.50 area as new resistance before pullback towards 18 or more

31 May 2018 11:44 am
22.50 was reached and backed away under 20.50 to keep going to or through 19 area where there must be another pop-up or keep coming to or through 17 possible

31 May 2018 11:51 am
new high at 22.50 and a pullback reached 17.50 so far and just over the 17 updated level and should be another leg down if 20 is held below to test 16 area

31 May 2018 11:55 am
still holding right at 17 so unless broken the 20 area could get another tests and possibly 21.50 or a tiny below to be watched for a downturn for a double top to go with the double bottom

31 May 2018 11:57 am
20 rejected and a short up there if reached or poked above with stop just above the high

31 May 2018 12:02 pm
15.75 pullback low so far and so has a shot at 14-13 again if this holds below 17-17.50 and not go above and hold above that area. 20 still good resistance to short under

31 May 2018 12:06 pm
14.50 reached so far and attempting to firm up from there but still has to get over 17.50 and then especially 20 or just feeble move and another leg down from 17.50 or lower

31 May 2018 12:09 pm
13.25 so far and taking out 14 opens the door to the 12.50 area for lower on this move

31 May 2018 12:15 pm
bouncing from 11.75 but not very well and needs to get going above 15-16 and stick just to get a little riled up to neutral going under the high most likely

31 May 2018 12:17 pm
I will be oh wait until around 1:15, but will update when necessary and if in a timely fashion hopefully. At the moment this move should fail here there the 14-15 area if it's going to stay under downtrend resistance for another push lower otherwise

31 May 2018 12:27 pm
another failed bouts attempt at 15.50 and staying under 17 resistance and just short bounces as the ES still does not look good and should take out 2711 or more

31 May 2018 12:27 pm
maybe back towards the low area one more time

31 May 2018 12:34 pm
so far 11 has been reached which was the first target but the door is opened holding under 12.50 area to go back to 2708.50 or if no sign of a turn then the 2707-2706.50 support and low area to test or break

31 May 2018 01:08 pm
another bounce held that the Ford team area and as long as 14-15 is held below the market is under pressure and further breakdown is coming so be sure under that area

31 May 2018 01:10 pm
it was a bounce from 10 backed up to 14 and was rejected on a second time up there coming right back down to 11 so far and should go through 11-10 without reversing on the way to 2707.50-2706.50 low area at support from earlier

31 May 2018 01:13 pm
attempting to say range bound, but eventually will bring different in this 10.25-10.00 pullback low area by holding under 13-14 at the highest, probably not even over 12

31 May 2018 01:16 pm
took a lower low so far holding 08-07 major support and looks like it could be a better bottom than other pullbacks at the moment but needs to keep going up above 12 and then especially 14-15 or else just a bounce

31 May 2018 01:20 pm
still holding under 12.50 but a chance for a pop up if 11 holds although not sure it can take out 14-15, probably not. Could just start going lower from here

31 May 2018 01:23 pm
a quick move down from the 12.50 probably needed if there's going to be a break towards the low, otherwise keep on pushing up towards 14-15 but likely not get to or through that area this first time anyway

31 May 2018 01:27 pm
quick reversal back down at 12.25 should be a bounce high and very hard to break and hold unless beginning a reversal. Right now it's a short under that level down to 09.50-08.50

31 May 2018 01:30 pm
-based bike down to the 09.50 support and quickly turned up and should be a low for a move that could take out the 12.50 area as long as this low holds

31 May 2018 01:41 pm
the last pop up also failed just under 12 and then the low was tested and turned right back up with a double bottom and support now. If taken out then it would open the door for 2703-2702 area this afternoon. Probably needs to get over 10-12 and hold

31 May 2018 01:46 pm
10.50 top so far and tiny pullback but needs to go over 11-12 with gusto or remains vulnerable for another move down which could break through the double bottom at 2707 support

31 May 2018 01:55 pm
starting further breakdown attempt now, should get the Tao back down to its low would be another 3-4 ES points roughly. 2710 area needs broken and 2707.50-06.50 break and hold below for further breakdown towards 2703-2702

31 May 2018 01:56 pm
just stay short on bounces as long as under 2708.15 now and down to the 2703-2702 for a target on at least part

31 May 2018 02:02 pm
easily to the 2702 and going to Lord through 98-97 minor and if no bounds right down to 94-93 and fill a gap from yesterday big open

31 May 2018 02:04 pm
trend and momentum still strongly down as long as under 2704. 2707-2708 area a very strong bounce resistance area now if it gets that far

31 May 2018 02:10 pm
so far 2703.50 reached and could be another drop if this stays under 2704 much longer

31 May 2018 02:11 pm
otherwise a chance for a little run up towards 2706-07 instead

31 May 2018 02:13 pm
4.50 rejected and should come back to or through 2702.50 or more

31 May 2018 02:18 pm
2:02 low and just turned up with some gusto from 2702.75 and should begin seeing pullbacks held now but there could be another pullback from the 2707.50 area but hold and turn up just a little lower

31 May 2018 02:20 pm
another pullback should hold around 2704.50-2704 area at worst and turn up again if the market is turning around with a low in place for a while and attempt taking out 2707.50 area with a chance of sticking

31 May 2018 02:22 pm
this stays bullish as long as 2705-2704 is not broken now. A move over 2707.50 that sticks is needed for this to be a low and not another pullback that could test for break 2705-2704 or more

31 May 2018 02:28 pm
ran out of steam at 2708 and going under 2706 and not turning up right away gets things moving to the downside. We need to get over 2708 very soon

31 May 2018 02:31 pm
looking at the 14.50-14 area as support zone to cover shorts,could be turned around from that area

31 May 2018 02:32 pm
on one half of my position and see what happens with breakeven stop at the moment

31 May 2018 02:34 pm
turned up from 2704 target /new support and may not be finished going down if unable to get back above 2706 area and stay over that for a while

31 May 2018 02:46 pm
pullback stopped and turned up right at the 2703-2702 zone again and that was broken and then quickly turned back up earlier. There would need to be a move back under 2702 that held down there for this to have further breakdown, maybe instead of anot

31 May 2018 02:49 pm
needs to hold and turn up from 2704.50-2704 area at worst and then take out the 2708 area in order to get something going on the upside, at least try as it could end up failing per today's action and go back down under 2703-2702 or more

31 May 2018 02:54 pm
update in about 10 minutes or so as this is going for a test of 2707.50-2708 prior support/new bounce resistance where another pullback possible but if causes short covering could gun higher

31 May 2018 02:56 pm
in which case 12-13.50 would be a possibility. If so should be sold into unless good momentum. Should be a top right here if going down from this bounce

31 May 2018 02:59 pm
break out try on the upside if 2707.50 is taken out and able to hold. Okay back in about 10 minutes or so

31 May 2018 03:05 pm
even though the ES is currently in an uptrend it is still easier to short the market than it is to be a buyer and pressure is still on and any kind of bounce from here is a short, it could begin to break down if 2706 broken and not quickly turned up

31 May 2018 03:07 pm
pop-up should be sold at 2710 area and then come back up after a small pullback

31 May 2018 03:08 pm
the ES made it slow and reversed at 2 PM today so the last 2 hours for the market to rally back all the way to the 22.50 hi of the day, although doubt that unless 14-15 broken/held also

31 May 2018 03:11 pm
right up to 11.50 and the pullback will need to hold around 2710-2709 at most and make its push over at least 12.25 and especially 14.50 if going to keep pushing higher, not keep coming down

31 May 2018 03:12 pm
could be a bitter pullback all the way to 08-0 7.50 more important area down here that needs to give a bounce or else potential further pullback

31 May 2018 03:16 pm
pullback holding at 2709 new support and should make a move to or through 12.50-13.50 otherwise a rejection can start a late day pullback is set of being strong into the close

31 May 2018 03:20 pm
the bounce high at 11.25 just under the 12.50-13.50 prior support but also the 50% retracement of today's relatively small range. Need to continue holding 2708-2707 in order to avoid potential end of day pullback/breakdown. Should stay under 11.50 to

31 May 2018 03:24 pm
at the end of the day the ES needs to keep going here and get back over 11.50-12.50 and stick or else end up rolling over at the end of the day and end up near the low end of today's range. Especially taking out 2708-2707 area again with some moment

31 May 2018 03:30 pm
another drop from just under 2711.50 bouncing back from 2708 and a another failure at or below 11.50 should start a move under 2708-2707, and if broken will probably bounce right back but if not then head to 2703-2702 a possibility

31 May 2018 03:31 pm
have a great rest of your afternoon and evening. I'll update tonight and then meet you here in the morning. Take care!

31 May 2018 03:38 pm
with the ES holding and turning up from 2707 support it can make a last 30 minute run up as long as that area is not broken. A push back above 2712 that sticks is what is needed. A potential failure if no piling on, and comes down quickly instead. Ta

 

INTRADAY LOG FOR TUESDAY - MAY 29, 2018

29 May 2018 09:20 am
Good morning. what and up and down overnight session! it has been too complacent lately it seems. It looks like 2700 needs held and run up over 2705-2706 and stay above 2705

29 May 2018 09:28 am
uppdate 10 min after open short week

29 May 2018 09:35 am
2705 need cleared and held

29 May 2018 09:40 am
98 low and still can go to around the bottom of the range around 92 only if broken and then hold under 2702 at most afterward

29 May 2018 09:48 am
seems to be buyers well not come in or shorts cover unless a move with some gusto through 2703 and stick and then 2705

29 May 2018 09:55 am
rejected 2703.50 area 4 times and needs cleared and held after a move over 2705. Otherwise 2700.50 needs held or could reverse back down towards new low

29 May 2018 09:58 am
should be a low-end as long as 2701 holds

29 May 2018 10:02 am
should hold at 2706-2705 area on pullback at worst to keep going higher

29 May 2018 10:10 am
could be a little high and has to bounce from above 2706.50-2705.50 at very worse if going to make a move to or through 11.50-12.50 where there should be a reaction of some sort, possible pullback to the 2708-07 area

29 May 2018 10:14 am
a move under 2705 that's not reversed should keep going to or through 2703-2702 and would need to turn up or else could go back towards the low but doubt that right now

29 May 2018 10:20 am
to have any chance of a run up 2704 area needs to keep holding and take out 2708 area

29 May 2018 10:27 am
2703.50 area was a little breakout level after 4 rejections early and is broken bounces should continue being sold. A decent bounce sold into anyhow especially 11.50-12.50 if a new high not reversed

29 May 2018 10:29 am
the old top possible and coming down under 2703.50 should mean a top in place for a while back towards the low or the bottom of the range around 92

29 May 2018 10:31 am
double top and a breakdown that could be on the way towards 97 area, maybe a little higher

29 May 2018 10:34 am
so far has come back to 2701.25 and has to hold 2700 for a bounce at leastor else keep going down through 97 low

29 May 2018 10:37 am
the feeble bounce so far shouldn't go much further and roll over again

29 May 2018 10:44 am
small pullback right back up after the ES went back to the 2702-2700.50 area and taking that area out would mean a move to the lows. still a feeble bounce and should be hard to take out 2706.50-2707.50 and stick

29 May 2018 10:46 am
poor action so far with bounces being sold even at low levels and should continue unless there is a break and hold over 2706.50 on up through 2708.50

29 May 2018 10:57 am
still under pressure holding under 2706. I need to be a way about 10-15 minutes but bounces need to take out 2707 and stick in order to try turning around instead of going back down towards 2702 or the low if broken through

29 May 2018 11:03 am
real quick: as long as the ES holds under 2702-2702.50 area now it should stay under pressure on the way to or through 97 low area as stated earlier and possibly 94-92 area,

29 May 2018 11:17 am
Bounce from 96.25 has to get over 2701-2702 or else go back to a higher low or possibly new low at the 2794-2792. If broken through 2702, would still need to take out 2706 and not turned back down bigger picture

29 May 2018 11:24 am
since turning down at 10:05 that ES has been chopping lower making lower highs and lower lows and both 2701 and 2706 areas would need taken out in order to reverse back up as every bounce sold thus far.

29 May 2018 11:36 am
94-92

29 May 2018 11:42 am
looks like it can go through 92 and if so then 88-87 should be seen

29 May 2018 11:47 am
came 2 ticks under the 87 last of the listed support so far, and as long as a bounce does not take out 96-97 area and hold it stays bearish

29 May 2018 11:49 am
next below 88-87 is 83-82 and then the 78-76.50 another major area to hold or else the market could come apart

29 May 2018 12:00 pm
another feeble bouts and should test or break below and if it does take out the low at 86 then down to 83-82 and then what should be an important at 78-76.50 – it could get a bit ugly if reached and no reversal

29 May 2018 12:07 pm
even though the market is down quite a bit so far and reached the 82 updated support/target it still looks like 78-76.50 has a good chance of being reached and if so there must be a good reversal with gusto stick above 82 on a bounce. Just get short

29 May 2018 12:16 pm
the ES has come down to 76.50 and a very steady drop sets coming down from a feeble bounce high at 2702.75 and will need to at least bounce back above 88.50-89.50 on a bounce and then only a small pullback after that

29 May 2018 12:20 pm
bounce off of 76.50 updated support and needs to continue holding that level and take out 82-83 on this bounce with only a small pullback after that turning up also in order to get better bounce before pullback or another decent steady or sharp drop

29 May 2018 12:26 pm
every time the market is about ready to have a sizable break it comes bouncing back. At Friday's close internal indicators were 1 day with poor internals from being oversold, the VIX given sell signals is up 33%, so it must poll the same trick today

29 May 2018 12:27 pm
I will return around 1:15 or a little after but will update when possible and necessary. I do know that I will be on a phone call today. 2676.50 updated major support held, now bounce to take out 89-90 needed or back down

29 May 2018 01:00 pm
has been in and up trend since 76.50 updated major support and should hold 88.75-88 or else uptrend broken and another bounce sold

29 May 2018 01:01 pm
might be a bounce high in place for a while anyhow and any kind of bounce should fail from here for another push lower testing or breaking 86-84

29 May 2018 01:14 pm
it's back down to the 83-82 prior updated support and a feeble bounce so far which needs to get some momentum and at least though 86.50 with momentum and then up through 88 next otherwise rollover in this area and said

29 May 2018 01:24 pm
this appears it is going to have a hard time making a good rally that can stick it looks like today, but by tomorrow should be within 8 trading hours of a decent rally. the are weak with not quite twice as many down stocks as ups and the 3 times down

29 May 2018 01:32 pm
should be going down to test 76.50 which is not good as another bounce will fail

29 May 2018 01:37 pm
attempting to make a higher low on this leg down at the moment but only if it's able to get over at least 83-84 and hold 83 on a move over that level or keep moving lower instead here

29 May 2018 01:47 pm
a turnaround from the higher low so far that 80.25 along with the Dow cash making same pattern, could get out of trouble by going up and taking out 87.50-88.50 with only a tiny pullback after that.

29 May 2018 01:57 pm
but ES did come down to what should be a major pullback support area at 78-76.50 and reversed from 76.50 at 12:15 and bounced 15 points. ES needs to end this bounce attempt today over 93 middle of today's range so far, and prior bottom of range, to l

29 May 2018 02:03 pm
double top at the 87.50 bounce high from 1:20 but so far holding the 80.25 pullback low and would need to hold and take out the 87.50 area and stick otherwise a chance for a retest or break of major support at 76.50

29 May 2018 02:06 pm
this has been a trend down day except for a lunch time bounce from major support lasting from 12:20 until 12:55 and should sell off until around the last 30 minutes or so and if no turnaround before then, goes lower into the close

29 May 2018 02:14 pm
yet another little pop-up unable to stick as this tries to hold 78-76.50, so another test needs a good bounce and get over 82 area was some gusto or else stay trend down and make a new low on the next pullback

29 May 2018 02:24 pm
potential for this double bottom to start a decent run up. Market has acted poorly and has its chance to break down, which hasn't been happening lately so a chance that oversold bounce could be starting in this 2:20-2:40 timeframe

29 May 2018 02:26 pm
that kind of bounce can lead to a lower low if only feeble and cannot get over the 81.50 level at a minimum and hold 80 after that

29 May 2018 02:43 pm
so far a failed bounce attempt again and under the last swing high at 87.50 with this top at 86. Needs to take out 87.50 and then hold around 86 in order to make another run up, but stays bearish with a bounces failing especially if from another bou

29 May 2018 02:44 pm
bounces should keep on failing under 87.50 at highest and should be breaking the double bottom this afternoon going to 66.50 area possibly. 72 first though on a break under 76.50 that gets momentum

29 May 2018 02:54 pm
should be breaking down very soon here if there's going to go towards 72 area and not just pop under and turn up

29 May 2018 02:57 pm
token lower low and just say pop-up so far, still under pressure holding under 78.50 area at the moment

29 May 2018 03:00 pm
trying to bounce and there could be a little pop-up but unless at least 80-81 needs broken and then hold 79 after. Unless that happens it's going to lower lows and breakdown may be sharply

29 May 2018 03:02 pm
instead of what could be a breakdown there is a token lower low quickly turned up at 3 PM and that should hold along with the low on the Dow to have the market out of trouble which happens only if 80-81 broken and then 79 holds and turns up again

29 May 2018 03:06 pm
bounce high at the 80-81 resistance so far and keeps the door opened for another test or break of the low. Pressure will stay on unless 80-81 broken above and then 79 area holds and turns up again

29 May 2018 03:11 pm
80 turning into good bounce resistance being sold twice instead of going up through 80-81 and holding 79 at least

29 May 2018 03:14 pm
holding under 80-81 keeping pressure on for a potential further breakdown if this is going to stay in a trend down mode into the 3:30 timeframe where a low could be made +/-5 minutes

29 May 2018 03:22 pm
10 minutes until the ES Time frame for a low begins to run out of time, should be 3:30 PM +/-5 minutes if there's going to be a reversal from lower low – if there is one now

29 May 2018 03:24 pm
could be a turnaround and bottom in place with this saving itself from another late day breakdown if it can get over 80-81 without getting reverse right back down again

29 May 2018 03:27 pm
so for another feeble bounce but if this can keep on going higher here and at least take out 80 then a chance for another late day run up of some sort. The way today has gone though, might be hard to hold if 80-81 is reached

29 May 2018 03:29 pm
this must get over the 79 level minimum and more so the 80-81 area, but if 79 can't even be broken then this can keep going and make a lower low down towards 72 is possible if no quick reversal up

29 May 2018 03:31 pm
have a great afternoon/evening. Update this evening and then I will meet you here in the morning. No live sessions this week, my apologies

 

INTRADAY LOG FOR WEDNESDAY - MAY 23, 2018

23 May 2018 09:10 am
Good morning. It looks like we get a gap down open and try to bounce but would need to get over 12.50 and hold 12-11 area at most after that

23 May 2018 09:15 am
even if there is a reversal up from down here it should be quick but not last very long

23 May 2018 09:21 am
or having a gap down open that could reverse and give a decent bounce however it should not stick at higher prices, especially given the 21.50 needs reached just to fill the gap

23 May 2018 09:25 am
should be some resistance at 11.50-12.50, and then likely somewhere around 16-17 after that.

23 May 2018 09:29 am
looks like there should be a run up with shorts taking profits on a open… Holds over 2709.50

23 May 2018 09:29 am
but still has the resistance to get through and hold and the 12.50 area would be first

23 May 2018 09:34 am
need to hold 11 area at the lowest or else could begin to break down further. Getting over 14 and should be hard to do

23 May 2018 09:39 am
should have some trouble on a poke to the 16-17 area or a little lower and another 3-4 point pullback

23 May 2018 09:43 am
bounce had a pullback hold 12.50 and run up and some rejection just under 16-17 and must hold 12.50 area or else could be further breakdown from a top at 15.50

23 May 2018 09:45 am
if 12.50 area not broken and there is one more run up and set of a drop then the 16-17 area needs taken out or market stays in a bigger picture downtrend and pullback of some sort likely

23 May 2018 09:47 am
I will meet you online around 10:20 and 12.50 area should continue holding to avoid another pullback and set of going to 16-17

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

23 May 2018 11:55 am
it looks like that rejection of 20 and just under the 21.25 high of the day could be important and a top for a while if the 16 level is broken and then holds under 17-17.50 area after that and turn down

23 May 2018 11:57 am
if this gets over 18 with some momentum then it could have one more run up to or through the hi of the day. Taking out 16 should mean next bounce is sold into if there is one and not a quick drop

23 May 2018 11:58 am
should keep coming down to lower through 15-14 area and if 14 is taken out than the bullish pattern breaking and possibility to take out the 12-11 area after that

23 May 2018 12:02 pm
air pocket drop to 12.75 as stated with momentum and another pop-up should be sold and come back down to or through 12.50 and the 10.50-10 area could be very important if the 12 area broken through

23 May 2018 12:04 pm
16 area should be turned away on this bounce to get another push lower to or through 12.50 area

23 May 2018 12:08 pm
better bounce than expected off of 12.75 but still should have trouble taking out 20-21 area and staying up there if it's reached the end. There should be pretty good resistance around 18-18.50 just under that

23 May 2018 12:13 pm
if there is another run up to the 20 area with some gusto on the way up it will probably try for a token higher high and fill the gap and then a pullback of some sort would need to hold 18-17

23 May 2018 12:13 pm
giving over 18 and holding is going to be hard to do here is appears so beware of potential reversal around that area

23 May 2018 12:14 pm
that should be it and pullback began now

23 May 2018 12:15 pm
a move back under 15-14 likely here and if not broken or broken with some momentum than could have another bounce from the 12.50-11.50 area or just above again

23 May 2018 12:16 pm
I will be away until around 1:10-1:15 but will update ASAP if I'm able. Would still be shorting bounces as they are not sticking and double top of sorts in place on a day with bearish action mostly

23 May 2018 12:34 pm
the ES has been grinding steadily lower since turning down from 17.75 and made it to the 10.50 area which has been low areas and was not under that level very long when it went down to the lows. So, another push lower could take out 10.50 in which ca

23 May 2018 12:47 pm
the ES held that 10.50 and turned around and just made a run to 17.25 and if no pullback from this area down through 14 area then uptrend still in tact and another push higher possible but if 14 broken by much then another bounce should be sold when

23 May 2018 01:03 pm
reversal off of 18.50 and a break under 15 would be too much most likely and another bounce sold if not an air pocket drop towards at least 14-13 IF going to break down further with bounce attempts failing

23 May 2018 01:29 pm
so far the ES failed 3 times from 18.50-21.25 and has come down to or barely through 11.50-10.50 on 3 pullbacks and turned up – even the low bar at 2708.50 support closed at 10.50 on the 5 minute chart. So need to take out that support and stick, o

23 May 2018 01:30 pm
It's the Dow that's acted worst and needs to make a bounce high above 24,731 to finally make a higher high after a higher low so far in its choppy downtrend

23 May 2018 01:33 pm
16-17 being held below again and could be bigger pullback soon if 16 not taken out. Breaking through 13.75 for a chance to get downside going

23 May 2018 01:39 pm
a chance this can drop back to or a little bit above the 12.50-11.50 area but if so there would need to be a turnaround quickly and go back up in order to avoid potential breakdown has that is key support this afternoon

23 May 2018 01:42 pm
there is a pretty good underlying bed although it is a thinly traded market. This poke up towards 16 needs to have some follow-through with gusto or is just a little pop-up and eight chance of a move back down instead of up to or through 16-17 or mor

23 May 2018 01:44 pm
pop-up has some small rejection at 16.50 and needs to hold around 16 and keep going up above 17 to avoid a top up here for now

23 May 2018 01:45 pm
even though there hasn't been a lot of follow-through on either side, I think selling bounces with this being a gap down day, should still offer the better odds and opportunity and is what I am doing just FYI

23 May 2018 01:51 pm
a small 13 point range so far today, and with the pop-ups being sold there could be one more run up which should also be sold as soon as the upside stalls or there is some rejection of bit higher up. Must at least go up above 18 area with some gusto

23 May 2018 01:54 pm
there are buyers coming in on the dips now that are holding the 15-14.50 area and for now unless that is broken the market should have an upside bias and not reversed until higher prices stall out. 17 was just sold and has to take that area out and n

23 May 2018 01:58 pm
should begin to have a quick breakdown if the ES takes out the 15 area and not turn right back up again. Another pop-up still possible unless broken without immediate reversal up again

23 May 2018 02:02 pm
buyers have been coming in on the dips and now the ES just shot up again and testing a high area where it should have a pullback and then another bounce as long as it comes from 16 area at worst. Expect another pop-up to be sold into also if there is

23 May 2018 02:08 pm
the ES came down to 16 and turned up and has filled the gap from yesterday and resistance would be all the way up at the 27.50-28.50 area which would be sold if approached. Pullback now should bounce from 21-20 area or else deeper pullback what hold

23 May 2018 02:09 pm
stalling out a little bit and can pull that from 25 or lower and come down towards 22 or a little more

23 May 2018 02:16 pm
if no bounds from 22.50-22 there's a 22-21 area should continue to hold in order for this to make it to or close to 27.50-28.50 where thee should be good resistance if this token higher high is not sold

23 May 2018 02:18 pm
token higher high at 26.75 just under 27.50 resistance and can be a top if this comes down under key area around 22-21 that must hold

23 May 2018 02:20 pm
no buyers above at least at the moment as a backed away on the last pop up and now could be coming back to or through 22-21 key area up here

23 May 2018 02:21 pm
back down towards 19 and possibly 17 area or lower if this cannot hold 22-21 and bounce with some gusto

23 May 2018 02:25 pm
bouncing from the support at 22.25 and should get back and make another higher high reaching 27.50-28.50 and then another small pullback

23 May 2018 02:27 pm
tiny 13 point range for the day being erased with the ES reaching 27.75 resistance so far. Should be pulled back to or through 23.50 area which should be support area on pullback

23 May 2018 02:30 pm
pullback from 27.75 target/resistance area at 27.50-28.50 and has to stay above 22.58 or else it's probably on its way towards the 19-18 area or more

23 May 2018 02:32 pm
looks like a top being made in the 2:20-2:40 timeframe, as another pop-up will be sold at resistance if reached, and room for some pullback going back under 22.50-22 back down to 19-18 or more

23 May 2018 02:34 pm
should only be shorting bounces as a high should be in place it appears, at least until very late in the day in case of a rally, but should keep coming to test or breakthrough 22 and keep going towards 19-18 if that area is taken out by much without

23 May 2018 02:40 pm
so far the ES is trying to hold the 21.25 prior high area, and if 21 holds there could be another move towards the highs however if broken then can go to 19-18 or lower and accelerate or have a quick reversal if reached

23 May 2018 02:41 pm
a bounce that holds or turns down from 24 is just a feeble bounce and could lead to another push lower if not broken through and held on the way up to test the highs instead so watched the 14 area

23 May 2018 02:43 pm
a short under 23 down to 20-19 at a minimal and could be down to or through 17-16 prior resistance

23 May 2018 02:46 pm
21.50-20.50 area needs to hold as new support now up here it appears in order to keep from a late day pullback or drop. This might have a chance to make another run up otherwise

23 May 2018 02:53 pm
with this holding 21.50-20.50 going into the last hour, needs to continue holding and make a move back up to or through the 27.75 high at the 27.50-28.50 zone. market stays bullish holding 21-20 this afternoon

23 May 2018 02:57 pm
not much momentum so far but could get some if it gets close to the high so it can push through, but probably not stick very long

23 May 2018 03:02 pm
so can hire high but looks like will still push higher as long as 26-25.50 holds

23 May 2018 03:04 pm
this has turned into a trend up kind of move after breaking out, turning down from resistance, holding initial support and turning up and a new high not being immediately reverse. Should pullback but stay above 26 area

23 May 2018 03:06 pm
a chance for this to begin going a bit vertical if 30 is broken and holds over 28 at worse afterwards

23 May 2018 03:07 pm
but if there's going to be a reversal it should be around this 30 area soon

23 May 2018 03:09 pm
pullback needs to bounce from 27.50-26.50 at worst or else chances of a bounce afterwords being sold at least for a pullback again is likely

23 May 2018 03:11 pm
need to turn up from this 27.50 area and not much more or else more selling could come in on top of that or buyers are backing away late in the day

23 May 2018 03:13 pm
this is turn started just after 3 PM from just under 30 and so far holding 26 pullback low area, and will need to make another higher high or else continue a pullback down under 24 which could put some pressure on towards 21

23 May 2018 03:18 pm
should be hard to get back 27.50- 28.50 and hold up there very long and can come down to around the 24 area and if no sign of holding than the 21.50-20.50 key support end of the day

23 May 2018 03:20 pm
it is still holding the 26 level and unless that is broken then the market will stay out of trouble, keep the door open to get back to the high area unless 26 broken

23 May 2018 03:21 pm
if reached look for selling again around the highs as it looks like this move is getting tired and ready for more pullback from this area

23 May 2018 03:26 pm
buyers have been in charge since 2:05 PM Wednesday good run up started and broke the range and double top, and bounced from 21.25 prior resistance on a pullback and turned up. Should want to keep this over 26 area for another run up to test for break

23 May 2018 03:30 pm
buyers have been in charge since breaking out around 2:05 and and less there is a double top and reversal back down through 26 area the market will be in good shape with higher to go before a reversible sticks. If 26 area broken, then things change a

23 May 2018 03:31 pm
have a great afternoon/evening and I will meet you here tomorrow before the open. Take care! Buy low, sell high – double top currently. Take care

 

INTRADAY LOG FOR TUESDAY - MAY 22, 2018

HOW OUR TRADING DAY WENT: Looking to sell early strength first, we had a perfect set up as the ES ran up to 2741-2742 MAJOR resistance and turned down. REAL TIME members were told to get short as it could be a position to hold most of the day. We took profits at 2733 and 2728 and for 6+ points on the first half and 11+ points on the second half – profits of $300 and $550 per contract. CLICK HERE for a quick video recap that Ian did tonight.

22 May 2018 09:19 am
Good morning. We're going to have another higher open and a pullback is going to need to hold 37-36.50 to keep uptrend

22 May 2018 09:26 am
the early strength should be sold either in the first 5 minutes or 20-40 minutes after the open at worst, and if 36 broken than 33.50-32.50 area needs held first

22 May 2018 09:28 am
I'll update after the open

22 May 2018 09:34 am
turning down from 39.50 double top and 37.75 held and turned right back up and would need to come back down and take out 37.50-36.50 and not turned right back up again

22 May 2018 09:35 am
probably will test or break 41-42 but if broken not stay up there for very long unless broken through with gusto and not turned right back down again and take out 39-38

22 May 2018 09:38 am
the internals are going very strong and should be overbought with a close this strong, and backing away right now from 41.75 major resistance area which would need to be taken out and held after or else could top out

22 May 2018 09:40 am
going to be short under major resistance and the high of the day with stop at 42. In order to write lower need to take out 37.50-36.50 and should

22 May 2018 09:42 am
might be an important top worth hanging onto a short position for a while and at least to the 37.50-36.50 area which needs broken in order to break this strong uptrend and give a bigger pullback

22 May 2018 09:49 am
bounce from 37.25 stop at 39.50 resistance and reached 36.75 so far and still needs to go through 36.50 and hold under 38-39 they're going to break down and not bottom at the initial resistance/new support

22 May 2018 09:53 am
short at major resistance area worth hanging onto for a while and 33.50-33 are at yesterdays close and pivotal area there also. will meet you online around 10:20-10:25

22 May 2018 10:14 am
DT at R

22 May 2018 10:16 am
33.5-33 cover 1/2

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

22 May 2018 12:04 pm
the ES oh love from 41.75 MAJOR support to the 36.75 prior initial resistance turned support and bounced back to double top at 41 then sharp drop to the 32.50 level, 1 tick under yesterday's close before bouncing back to 39, which should not be broke

22 May 2018 12:09 pm
holding under 38 and break under 37 area on this move needed to keep pressure on to test or breakdown through 36.50 -36 pullback low and this very thinly traded market today.

22 May 2018 12:11 pm
holding under 38 and breaking 37 on the way to 35.50 if this action continues. Has to go through 35.50 if going to get a breakdown and not just a pullback

22 May 2018 12:18 pm
at this morning's high the breath was >1500 net advancing issues and the VIX went to 12.83 and turned up. Breath not as strong right now, but the VIX just made new low at 17.78 and turning up over 12.91 area would be bearish reversal– likely coinc

22 May 2018 12:20 pm
all these set bounces should fail and be sure to opportunities under the 41-42 area this afternoon. might only be scalping opportunities but likely more, especially breaking and holding under 36 area now

22 May 2018 12:26 pm
35.50-34.50 area can give a bounce of some sort but not take out 38.50-39.50 on a bounce and be able to stay there very long if it does. Taking out 35 by much should go right down towards 33 again

22 May 2018 12:35 pm
you should have 1/2 of a position still on after taking off 1/2 at 33.50-30 early will be look to sell any kind of bounce if not short already and if 33-32 area broken/held instead of turned up then could be going to or through 28-27 which is major n

22 May 2018 12:38 pm
almost to the 33-32 low area and yesterday's close and likely going to break through and if so could continue down to or through 28.50-27.50 major area now poor today

22 May 2018 12:42 pm
double bomb on the Dow cash along with bouncing off of 33.25 with a bit of gusto, but still the ES would need to get over 35.50-36.50 and not turn right back down on this move to stay in this range a while longer, otherwise stop and turn down from th

22 May 2018 01:05 pm
there was a pop-up that reached 36 and a spike down that was turned up that 34 and now this move should take out 34 and either test or break 33-32 on this move especially if the Dow continues pushing lower from here

22 May 2018 01:20 pm
a bit harder than the others with the Dow coming down and should test or break 33.25-32.50 lows in the Dow goes to a lower low

22 May 2018 01:29 pm
bouncing again from 33.50-32.50 new support around yesterday's close and its closing range, and has to be broken through and held under in order to have a breakdown go towards 28 area possibly. Otherwise could attempt another pop-up to 36 area but pr

22 May 2018 01:34 pm
this is going to stay bearish with a bounces failing as long as a bounce does not get back over 36 area with gusto and stick. Doesn't look like that kind of action is in the cards and bounces are going to keep failing making lower lows and next area

22 May 2018 01:36 pm
and next area would be 28-27 if broken with some momentum so it can hold under 36 at most on a bounce attempt

22 May 2018 01:40 pm
almost to the 32.50 00 the day and 32 bottom of 33-32 range, and a clean break should go towards 28-27 area next. Ideally hold under 33.50 For going through 32.50

22 May 2018 01:44 pm
turn around off of 33 so far and this bounce has to get over at least 36.50 in order to take some pressure off and avoid possible test or break of double bottom at 33-32.50 area very soon

22 May 2018 01:50 pm
both the Dow and ES right at or close to their lows for today while the NQ managing a bounce that is sticking after turning up around 12:35 at 6900 and so far made it back to 6919 about a minute ago. If it pulls back while ES and how on their lows ES

22 May 2018 02:00 pm
so far 36.50 was not reached and needs to be taken out after this tiny pullback otherwise there could be another push lower to or through 33.25-32.50 area and head towards 28-27 which is still possible under 36.52 day

22 May 2018 02:04 pm
changing directions now with the 33 area as the key support on the way up to test or break 37-38 area again soon, and needs to break and hold over or it could stay in a trading range

22 May 2018 02:12 pm
after reaching that 36.50 level on the way up from that Sprint higher, so far only a tiny pullback in this thinly traded market today and probably should hold around 35 or else could go back down towards the bottom of this range before another bounce

22 May 2018 02:26 pm
if the ES cannot get over 36.50 and be able to stick bouncing from 34.50 at the worst, otherwise could be a breakdown instead

22 May 2018 02:30 pm
right now as long as 35 is not broken buyers are holding this up and make an attempt of taking out 36.50 area and holding after a small pullback so 36 area can hold and attempt 39 next if that happens

22 May 2018 02:36 pm
37.50 reached so far and the ES is backing off a bit and if the upside is going to continue then it needs to bounce from 36.50-36 area at worst it looks, otherwise taking out the 36 area again can turn this back down

22 May 2018 02:41 pm
another top should be in place and come down under 35 on this move and get further breakdown

22 May 2018 02:42 pm
to or through 33.50-32.50 again. 28-27 if broken. You want to be short under the bounce high at the most

22 May 2018 02:49 pm
the Dow is at a new low for the day and only a small pop-up which is probably all that ES will do as all bounces have been failing and bounces have been lower highs and would need to take out 37.50-38.25 and 39 above that. and stick, which has not be

22 May 2018 02:56 pm
quick move up from 33.50 was sold into and can be looking for the 28-27 area

22 May 2018 02:59 pm
31 low so far but still should be on its way to the 28-27 area holding under the 33 area for now

22 May 2018 03:06 pm
this morning shortly after the open I suggested being short for a swing trade and covered 1/2 of the position at the 33.50 level and have still been hanging on to the other 1/2. Going to hold out for one more push lower to the 28-27 area to cover the

22 May 2018 03:06 pm
Stop is as at 34.25 as that should not be cleared if this is going to roll over again instead of a better bounce attempt being a possibly

22 May 2018 03:11 pm
29.25 so far and should continue holding under 30.50 area now if going to poke down to 28.50-27.50 area below

22 May 2018 03:18 pm
bouncing from 28.50 and just over the 28 level I had been giving most of the day until the last update when I gave 28.50 that's also listed in last night's update and needs to bounce from 28.50-27.50 zone now and take out 31 area and stick – which

22 May 2018 03:22 pm
could not get over 31 so pressure stays on at the moment. Even then it would need to take out 33 after that. Market not in good shape and bounces should keep being sold possibly into the close today

22 May 2018 03:24 pm
currently a double bottom at 28.50, must hold. keep an eye on this as it could turn out to be an important low or else heading down to or through 2700.50 low from last week at some point

22 May 2018 03:26 pm
have a good rest of your day! yet another good day to trade by the numbers! Have a nice afternoon/evening and I'll meet you here in the morning after you have read the nightly update. Take care!

 

INTRADAY LOG FOR MONDAY - MAY 21, 2018

21 May 2018 09:10 am
good morning. an open over 20 will leave a gap on a chart and the 28.50 area needs to be held for more than 5 minutes this morning

21 May 2018 09:14 am
pullback can come to 19.75 and then turn up if it's just a gap fill and turn up again.

21 May 2018 09:24 am
the mood changed from the way it traded on Friday over the weekend for sure. Wouldn't rule out this being similar to last Monday reversal in the first 5 minutes or somewhere 20-40 minutes into trading if it's going to

21 May 2018 09:29 am
looks like 27.50 needs to hold early or a bounce that follows shouldn't go too far before coming down again. 32-33 major area if reached today that needs taken out

21 May 2018 09:32 am
took off from 28.50 resistance/new support and needs held to keep going to or through 32-33 which needs to hold if broken

21 May 2018 09:35 am
33.25 high and if 32 broken then back down towards 30.50 or more, but if 33 taken out it could keep going towards 36 or higher

21 May 2018 09:38 am
just missed 36 and 33-32 needs to hold now

21 May 2018 09:42 am
should be a high in place if 33-32 is broken below and not turned right back up, could still attempt 36.50-37.25 but not stick most likely

21 May 2018 09:47 am
36.50-37.25 resistance stopping this so far and needs to take out 37.25 and stick in order to get a move to a token higher high that fails

21 May 2018 09:49 am
37 high so far and should not get over that and stick and should be a short under 37.25

21 May 2018 09:52 am
needs to drop through 33-32 on this move in order to have a decent top in. Should stay below 35.50 at most to keep this bearish pattern intact

21 May 2018 09:54 am
if short from higher up you might want to take partial profit at support and trail a stop

21 May 2018 09:58 am
the 33-32 area could be pivotal here still is under some pressure under 35 area at the highest for potential break lower

21 May 2018 10:04 am
bounce from 31.75 but stopping under 35 and unless that's taken out and held soon this could break down through 32 headed towards 30 or lower

21 May 2018 10:11 am
should be a little pullback low in place and another dip can give one more bounce attempts but has to get over 34 area and stick for a chance at testing the high area

21 May 2018 10:15 am
as a chance at a test or slightly lower high for a double top or a 123 top by turning down at resistance

21 May 2018 10:22 am
trying to make a lower than normal double top but should be a bounce in place and if not then 33 will hold and 37 would be broken but looks like it top

21 May 2018 10:28 am
must hold 34 now or else there could be a great to or through 31, and has to take out 35.50 soon if going to have a test of the 37 area and avoid topping out

21 May 2018 10:34 am
at high and 35 new important support to hold if going to take out 37.25 area and keeps going possibly towards the major area up at 41-42

21 May 2018 10:37 am
41-42 major area only a couple points away. A very important area the way I see it, especially on a closing basis, but in last broken it can't close above it so probably stay below that area if this comes back under 36.50-36 and not turn right back u

21 May 2018 10:41 am
if there was going to be one more push higher to test or stay a little under 41-42 then it would have to come from 36.50, which is very close. If broken by much instead, a bounce after should fail than

21 May 2018 10:44 am
36.75 pullback low held just over new support and so far popped up to 39.25 and holding under 41-42 and should be a hard area to get over and hold today and should be sold at or a little under that area

21 May 2018 10:50 am
a break under 37-36.50 that is not turned back up with some gusto would mean a high of some sort could be in place under the major area at 41-42. A stall here much longer should lead to a pullback of some sort,

21 May 2018 10:53 am
should be a top of some sort up here a little under the major resistance and a little under the top of this "window" that the ES has been trading in. Basically the range on 3/9 on the S&P 500 cash

21 May 2018 10:53 am
with a top in place for a while look for this to continue down to 35.25 area or more and then a potential for a bounce

21 May 2018 11:03 am
tops in place and should be shorting bounces as upside very limited here in downside some room to go it appears

21 May 2018 11:06 am
the ES would need to take out 39 and keep going up through 42 and stick in order to attempt to getting a run on the upside. Holding under that rejection and 38 keeps selling pressure on. 36-35 first support to break

21 May 2018 11:09 am
just going back to the 33-32 area is only 25% from yesterday's late low at 12.25 to today's high so far at 39.25, likely will if this goes back under 36-35.50 and then fails on another feeble bounce attempt.

21 May 2018 11:14 am
still going to or through 33-32 key and pivotal area up here and probably more with a good top in place for now at a slightly lower major high

21 May 2018 11:18 am
look to sell another pop-up as this should have a decent high in place and come down to or through 33-32 area next and stays bearish holding under 36.50-37 area at most

21 May 2018 11:22 am
will stay in a steady downtrend as long as a pop-up turns down from under 36 on its way to or through 33-32 area next if 36 area not taken out and held

21 May 2018 11:26 am
getting breakdown now and took out 33-32 and should be making its way towards the open and low around the 28.50 area next

21 May 2018 11:27 am
as stated earlier, top should be in place and bounces should keep failing now and steady downtrend turns into possible choppy downtrend but still bearish holing under 33

21 May 2018 11:30 am
could be an important top with the VIX reversing up from 12.81, going straight up at 13.56 and the ES needs 27-26 resistance for new support

21 May 2018 11:32 am
27.50 prior resistance poked under but not held and this lounge should stop at around 31-32 at the most in order to stay in trouble and have another leg down soon

21 May 2018 11:38 am
so far has come down to 25.25 and is about 50% retracement from Friday late low at 12.25 and today at 39.25. still can go to or through 24-23 area if one more small push lowercoming from 28-29 at most

21 May 2018 11:40 am
if you were short, trailing a stop, then right now a move back over 29.50 bounce high so far could go a bit further, a chance for reentry if it does a bit higher up if stopped out. 22.50 area next target/support area

21 May 2018 11:43 am
27-26.50 needs to hold for to the low area

21 May 2018 11:50 am
just a bounce as long as this holds under 29-29.50 area, although should be able to hold or bounce from a slightly lower low on another pullback

21 May 2018 12:01 pm
bounces are still going to fail and this one either just topped the end or if not then one more pop-up should get turned down at 30-31 if coming back down again

21 May 2018 12:05 pm
34-35 should be a key bounce resistance if reached, that's where the breakdown started fast and should not be taken out if this is just a bounce and coming down again – likely around the 32.50 area again

21 May 2018 12:06 pm
if it gets that far. Looks to be under pressure under 31 at the moment

21 May 2018 12:08 pm
I am going to be away until around 1:10 but will update before then if/when possible if necessary. Right now it looks like bounce high in place, if not one more pop-up at or under 32-33 should be it

21 May 2018 01:00 pm
this has been going sideways holding 32-31.50 but not able to get over 34-35 and hold yet which it should do if it's going to test or break the high area

21 May 2018 01:07 pm
we had the VIX go to 12.78 and then turned up at 10:40 (price high) and then started a strong move to 13.59 and reversed at 11:35 (price low) and came back right to middle. Needs to go up over 13.33-13.38 area for drop on prices. Could if 34 not take

21 May 2018 01:09 pm
might be in a range right now but it should be strong enough to at least take out 34 and if so then a chance for going up towards 36.50-37.60 again if not turned right back down

21 May 2018 01:14 pm
the breakout should be sold up here at 38.50 area but hold 35.50 -35 at worst if it's not going to be a top

21 May 2018 01:14 pm
no follow-through that can hold up here, any other pop-up should be sold from here

21 May 2018 01:17 pm
I gave the wrong number and its 36.50 that should not be taken out and even if it is not set and should see eventual breakdown under 34-33.50 for continued pressure to break the 33-32 area again

21 May 2018 01:23 pm
sounds failed and should be coming down to or through 33-32 area again if one more push lower here

21 May 2018 01:23 pm
should be in a new downtrend under 35

21 May 2018 01:25 pm
36.25 bounce high .just under 36.50 resistance and 33-32 prior resistance new support on the bottom of this sideways action Should come down from 36 or lower in order to keep downtrend and potential breakdown

21 May 2018 01:28 pm
that should be a bounce high in place at 34.75 and should be breaking down now soon. If so and there is a bounce after it still should fail went upside stalls

21 May 2018 01:37 pm
the ES came down almost exactly 50% from Friday's late low at 12.25 and this morning's top at 39.25 (50% =25.75) and bounced >75% that towards the high, but holding under, and unless 36.50 broken at a minimum, market stays bearish with a breakdown fr

21 May 2018 01:41 pm
ES really needs to make a move up over 35, with momentum to hold and keep going through 36.50 for a change, and not just miss or touch and turn right back down again

21 May 2018 01:43 pm
it does look like yet another to the 33-32 area would be a key area to hold at or above still this afternoon, and if broken then back towards the lows entirely possible. Needs to take out 35 and then 36.50 now

21 May 2018 01:46 pm
so far another bounce to 35.50. 34.50 should not be broken now without getting immediately turned up if this is going to have a chance of getting too or through 36.50

21 May 2018 01:50 pm
sold right at 35.75 and should begin a move under 34 that gets momentum in order to take out the 33-32 zone just under that and set of bouncing again which may or may not finally get through 35 and then 36.50 which is needed to avoid breaking down

21 May 2018 01:52 pm
this area around 34.75-35.75 is about as far as this move should go on the upside if there's going to be another push lower that takes out 33-32 anytime soon

21 May 2018 01:54 pm
should keep pushing lower and test or break the 33-32 area with the selling coming in at updated resistance which should be held below now to keep pressure

21 May 2018 01:59 pm
to get a breakdown through 33 that can stick, needs to have the Dow cash roll over and take out 25,005 oracles it stays range around. Will need to stay under 35-35.50 or else could also take out 36.50-37 again on a run up

21 May 2018 02:00 pm
this should be a short with a stop at 36

21 May 2018 02:01 pm
at 33 and breaking and holding under will get a breakdown going and could go back to or through the 30 area or more

21 May 2018 02:06 pm
billing sideways between 35.75-36.25 and 32-31.50. Odds are better for this to break lower not higher even if there is a pop-up

21 May 2018 02:10 pm
32.75 low again and just a tiny pop-up at least two start as it could turn into a spot where a run up comes from if it keeps holding much longer

21 May 2018 02:13 pm
little pop-up so that 34 with rejection and should be heading down towards the 30 area per earlier with stops in place over 36.50

21 May 2018 02:14 pm
could cut right to 30 area and if so then 2850 would need to hold or else 25 area where the low is could be tested or broken down to the 19.75 level to fill the gap, a total reversal almost if that happens

21 May 2018 02:17 pm
31 was reached and getting a small bounce but this will be sold at or under 32.50-33.50 if this is going to stay bearish in a choppy downtrend from the bounce high

21 May 2018 02:19 pm
32.75 reach on the bounce so far and should not go much further or lasts much longer if this is going down to test or break through 30 area still

21 May 2018 02:25 pm
market is still acting like last week, with the exception of the 15.50 point gap up open. The early strength sold just over 1 hour after open, decent 12 point pullback. now trading by numbers with bounce to 36.25 resistance sold in likely bouncing a

21 May 2018 02:26 pm
same area around 32.75-33.50 needs broken through or else a failed bounce and another push lower

21 May 2018 02:30 pm
another filled bounce attempts and should be working its way to or through the 30 area on this push lower or else hold below and make one more run up before failing. In any case be short and stop at 33 this very tight for now

21 May 2018 02:31 pm
just took out 30 and now door is open for a move back to or through 25-24 area and possibly as far as 19-18 in case

21 May 2018 02:36 pm
a bounce off of 28 prior resistance is also going to be broken it looks, as long as a bounce holds around the 30.50 area roughly and gets turned down again. Should at least test/break 28.50-27.50. If still short stop should be no higher than 31 right

21 May 2018 02:37 pm
with this bouncing from 28 support it should stay under 31 at most in order to keep this in a good downtrend with pressure on to still test or break 25 and possibly go all the way to 19.75 and fill the gap although that's doubtful for today right now

21 May 2018 02:43 pm
another feeble bounce failing at the 30.25 level holding under 31 and another push lower should take out 28-27 area, and if so likely continue to or through 25-24 which is another target if short from this failed bounce or higher up

21 May 2018 02:44 pm
would need to get a move back over 31 now in order to dent the downtrend and possibly another rally attempt. Would keep my eye on the Dow cash as it is finally weakening helping the Dow, down some

21 May 2018 02:48 pm
creeping higher but still is vulnerable and less this is able to take out 31 and then hold over 30 afterwords, in which case could get back to or through 33-34 areas next

21 May 2018 02:55 pm
bouncing off of this low at 28 new support is almost back to an area where selling came in earlier on the way down and it's this 33 area that has been pivotal most of the day and must break and hold over that level for this 2:35 PM turnaround to stic

21 May 2018 03:01 pm
the rejection of 33 resistance is not a good sign for the buyers, as 33 needs cleared and hold that area to have a shot at the 36.50-37.50 area instead of fact towards at least the 28th area again

21 May 2018 03:05 pm
the way things are looking right now, the ES would need to hold 30.50 and make another run higher with some gusto to get through 36.50-37.50. But, bouncing to the 33 resistance and not able to get over and hold would keep pressure on for this to go t

21 May 2018 03:07 pm
bounces are going to fail this week or at least early in the week and if this face is the day under 33-32 area, then it keeps the door open for 28 and possibly take out 25 area and 19.75 is going to be a target this week

21 May 2018 03:11 pm
only a feeble bounce so far from a pullback low just under 30, another move under 30 needs to accelerate on the downside instead of bounce right back again to go back to 28 area or lower before 3:30 and set up a reversal down here

21 May 2018 03:15 pm
two-sided action for the rest of the day most likely here as this has not been in a decent trend all day. Should have important pullback low's in place and stay over 30 on any pullback needed to avoid trouble at the end of the day. pullback can come

21 May 2018 03:17 pm
need to hold 32 and keep going up over 34 and then on up to or through 36.50 area

21 May 2018 03:18 pm
has to take out 33 and stick soon otherwise dropping back towards the last low around 30 possible

21 May 2018 03:22 pm
with all of these decent bounces being sold today this good rollover if it continues to hold under the 33-33.50 area. It would need to get above that and stick otherwise it's vulnerable for another decent pullback late in the day

21 May 2018 03:26 pm
29.50 area at a minimum which could mean just accelerating down to or through 28 next

21 May 2018 03:26 pm
any other kind of bounce should be sold as this is going to test or break to 28 area on this move

21 May 2018 03:29 pm
reached 28.25 so far and should at least poke under that area again and could get more moment some to take this to or through 25 or more depth that happens

21 May 2018 03:30 pm
whatever the case, another bounce ought to be sold into as a keep coming down to this area

21 May 2018 03:31 pm
stay with the short side the rest of the afternoon as long as the ES holds under the 33 major area previously

21 May 2018 03:35 pm
have a great rest of the day and I will meet you here tomorrow – after you have read the nightly update – with a quick comment before the open. Until then take care!

 

INTRADAY LOG FOR THURSDAY - MAY 17, 2018

17 May 2018 09:10 am
Good morning. Looks like 18-17 support will need to hold and give a good bounce to avoid possible breakdown early but a move up to 23.50 area needs broken through/held or still could be vulnerable for a decent pullback

17 May 2018 09:13 am
the short answer yesterday I'm just going to cover on the open as there looks to be a decent bid on a pullback. also have the live session I cannot give updates to everyone then

17 May 2018 09:14 am
so I will update after the open

17 May 2018 09:25 am
most have a good bounce from 18-17 area

17 May 2018 09:26 am
most important will be taking out 23.50-24 area and holding over that area afterwards.

17 May 2018 09:31 am
should go down through 17 area if this keeps holding under 20

17 May 2018 09:33 am
17.75 turned up and could be a low if this gets over 20 and can stick

17 May 2018 09:34 am
it is important support whatever the case this morning. Resistance at 21.50 and then 23.50-24.50 is the key area to get over to avoid another leg down

17 May 2018 09:34 am
or take out 18-17 which is likely holding under 21 area

17 May 2018 09:38 am
run up from a tiny double bottom at 17.75 and bounced back to just under 21 which needs taken out in order to avoid potential pullback another time and possibly break if not a tiny pullback then run up

17 May 2018 09:40 am
going to stay bearish unless 20-21 is taken out which will take a move back above 18 to have a chance and should be going to 16-15 if it holds under 18 area

17 May 2018 09:42 am
if this cannot make a good run up from 13-12 then bigger problems. Would need to at least go back above 18 to have a chance. I will meet you online around 10:20-10:25

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

17 May 2018 11:57 am
reversal up from the 13.50 support and a touch of the 32 major resistance that stalled and then rolled over and almost back to the 24-23 area again. Would need to get over 29 or else still vulnerable four another push lower

17 May 2018 12:00 pm
should have just made a bounce high if going to the 23-22 key area

17 May 2018 12:01 pm
that is chart support and also the middle of today's range. Trying to hold right now but if a feeble bounce cannot get over 27.50 and stick at a minimum it keeps the door open for 23-22

17 May 2018 12:11 pm
24.50-23.50 reached but feeble bounce and could still test or break 23-22 just below support, need to get a bounce going and take out 26.50-27 without turning right down

17 May 2018 12:15 pm
need to have a move take out 27.50 on this move or else another pullback from just under that area but not break 24 by much if at all

17 May 2018 12:19 pm
27.50 has been reached and should hold 26.50-26 area if there is a dip in order to avoid a move down to test or break 24-23 area. Another push higher needs to take out 29.50 early top of a range

17 May 2018 12:22 pm
the market has been very thin and easy to move a few points in a spurt up or down when not a lot of bids or asks to take them in on way up or down. So could be a couple more quick 3-5 minute moves

17 May 2018 12:24 pm
I will be away until around 1:10 roughly but will update if necessary as soon as I'm free to do so. Right now back at 28 resistance and could turned down but if it does not soon, 29.50-30 could be tested and maybe broken

17 May 2018 12:52 pm
stalled out at 28 resistance about 5 minutes and rolled over from 28.25 down to 21.50 and should be on its way to at least 20.50 and likely the 18.50-17.50 area could come in to play if there is another push lower and 20.50 broken.

17 May 2018 01:00 pm
quick drop to 20.50 support turned back up even faster and made it to 23.75 and a retest should also be bought as that area had shorts ready to cover or/and could buyers waiting. If it was mostly shorts taking profits not as likely to hold until lowe

17 May 2018 01:23 pm
the ES came down and made a double bottom at the 20.50 updated support so far and has tried several times to get back over the 23.50-24.50 resistance and unless broken/held that ES still remains vulnerable four another push lower

17 May 2018 01:27 pm
so far today we had an early low 2 ticks above the major support for today and a top right at the major resistance for today, and a downtrend from the high so bounces should fail holding under 25 area for now

17 May 2018 01:29 pm
just look for opportunities to be shorting, as we should see a lower close on the Dow today and probably S&P 500 cash also, which currently is up half of point

17 May 2018 01:31 pm
trading range at the moment as the 20.50 area is a safety net under the market – that needs to keep holding – otherwise bounces will be sold if it does go straight down to 18-17 again

17 May 2018 01:33 pm
if the ES can get over 24, and hold over 24 after taking it out, it might have momentum to make a run up but not take out 32-33 if that happens – doubtful as downside pressure still on

17 May 2018 01:39 pm
coming down again and should either reverse up from a higher pullback low with some gusto, or else and up taking out 20.50 and hitting to or through 18-17 which should be more likely with bounces failing since turning down from 32

17 May 2018 01:42 pm
should be a short down to the 18-17 area and not get back above 23-24 now

17 May 2018 01:43 pm
if the 20.50 double bottom is broken without turning right back up to get that going after feeble bounce turned down soon

17 May 2018 01:45 pm
18-17 needs to hold and give a bounce that's a good one to avoid a move all the way back towards the lows

17 May 2018 01:47 pm
18-17 needs to give a good strong bounce back over 20.40 or else still vulnerable and could keep on going towards 13.50-12.00 area which is major on the downside today

17 May 2018 01:52 pm
18-17 missed by 2 ticks so far but unless 20.50-21 broken with some gusto should and up taking out 18-17 on one more push lower.

17 May 2018 01:54 pm
21.25 was popped up to, and has to hold on a tiny pullback and make another good run up or there is a chance of testing/breaking 18-17

17 May 2018 01:56 pm
if you took the trade target met but can hold more a test of the low area with a stop over 21 area right now if more risky for more reward

17 May 2018 01:57 pm
probably going down there anyways by the way today's market action has been, and yet another rally high that has been turned down from important resistance and sold off pretty hard

17 May 2018 01:58 pm
pullback low at 14.25 so far and holding 3 ticks over the 13.50 early low and just above the 13-12 major support – which has a shot at being broken with a reversal from 32

17 May 2018 02:02 pm
going through 13-12 without getting turned back up with some gusto could keep on going down to or through 2707-2706 which is still always below here so needs to turn up or could cascade lower

17 May 2018 02:03 pm
to the 2707.50-2706 area

17 May 2018 02:07 pm
attempting to rebound from 2711 very bottom of that area I should have left in, but anyhow last support until the 2708-2706 area and then drop all the way back down to 2702-2700.50 if hit kind of hard

17 May 2018 02:08 pm
right now look for bounce resistance around the 15-16 area at the highest for a feeble bounce to fail

17 May 2018 02:12 pm
ES was only under the 12 level for a few seconds before turning up and that new low for a second target might be the low for a while. A move has two at least get back over 2718 and hold 17 after that

17 May 2018 02:17 pm
just turned down from the 16.50 level and still holding under 17-18 which needs taken out and held or there could be a double bottom or higher low on a pullback. need to take out 18 and hold 17 in order to avoid that potential

17 May 2018 02:20 pm
it looks like that is going to be a low for the day with the ES running up to 17-18 area, and even though 18 not cleared yet it should avoid another drop by holding 15 area at worse

17 May 2018 02:20 pm
this is where another pullback can come from this 17 unable to hold, should then see another bounce attempt fail if that happens

17 May 2018 02:25 pm
so far 17 held and the ES turned up again but not with much gusto at all and will need to continue holding 17 or else could get another push on the downside, instead of the possibility of going back towards 23-24 again and set up rolling over

17 May 2018 02:26 pm
update and about 10 minutes if needed. 17 a pivotal area to hold

17 May 2018 02:36 pm
could be a bounce high with the 20.25 high just under the previous double bottom at 20.50 and need to bounce from 18 now or else could break 17 and then could be rolling over. Need another push higher over 20-21 that sticks or rollover

17 May 2018 02:37 pm
could be starting now from the downturn at 20.25 and now 19.50 to or through 17 which could pick up momentum if not quickly reversed

17 May 2018 02:41 pm
needs to break down under 18-17 to have any kind of drop or pullback otherwise keep on going and see if 21 area can be broken/held

17 May 2018 02:44 pm
with 20.50 updated resistance being rejected it should put pressure on to test or break 18-17 area and if it is broken and not turn right back up then it's more than just a pullback. Holding as trend support at the moment

17 May 2018 02:49 pm
about to test or break the 20.50 prior high on this move, has to go through and keep pushing higher with only tiny pullbacks like it has. Not reverse down under 18-17

17 May 2018 02:55 pm
ES went from 13.50 up to 32 and down to 11 and now another bounce and the middle of today's 21 point range is at 21.50 and should test or break that and maybe get upside going Not immediately turned down from there

17 May 2018 03:04 pm
to oh 5 PM low and has been grinding steadily higher after a reversal – saved from possible breakdown yet again. Should see this go higher to the 23.50-24.50 area where good resistance to get through/hold, stay at over 20.50-20 on any kind of pullb

17 May 2018 03:05 pm
if there is going to be a late day pullback after this steady grind higher from around 2:05 PM until around 3:05 PM then should stay under 23-24 resistance now

17 May 2018 03:07 pm
and come down under 21-20 if it's going to put a dent in the current uptrend at the least

17 May 2018 03:12 pm
holding under 23-24 keeping this and bearish territory and going under 18-17 support again would likely cause a move back towards the low area although likely not today unless there is good momentum. Still be short or selling bounces

17 May 2018 03:16 pm
should keep coming to the 18-17 prior initial resistance and needs to hold or else keep going towards the lows again most likely

17 May 2018 03:21 pm
that ES has been using support and resistance areas for turning points all day and this bounce coming from 17.25 needs to get legs as it must hold in order to avoid further weakness towards 13 or lower late in the day or near the close

17 May 2018 03:30 pm
look for more selling in the last 30 minutes as all of these bounces have failed since turning down from major resistance at the 32 area

17 May 2018 03:34 pm
but ES would need to be able to rally back and take out 21 and then keep going up through the 23.50-24.50 resistance which it could not do and turned down at 3:10 PM. Not a good looking market

17 May 2018 03:35 pm
have a great rest of the day. I will update this evening and then may choose here tomorrow with a quick comment before the open as we ready ourselves for the trading day. Take care!

 

INTRADAY LOG FOR WEDNESDAY - MAY 16, 2018

HOW OUR TRADING DAY WENT: We had another good day looking for setups around the support and resistance. CLICK HERE to watch a video recap that trader and member Ian did tonight.

16 May 2018 09:17 am
good morning. I'm not sure which way this goes early but probably up until either turns down at 2709 close from yesterday or 12-13

16 May 2018 09:24 am
from just before noon yesterday, the ES went to or just above 12 four times and the last was about 15 minutes before the close, so needs to at least get back over that 12-13, or could test 2706

16 May 2018 09:27 am
decent bounce can happen but should see early selling into strength at or under 12-13 then bounce. I'll update a little that after the open

16 May 2018 09:35 am
needs to hold 11 and bounced back up or else top in place for a while

16 May 2018 09:38 am
needs to come down through 12-11 and then only a small bounce afterwards from around 12 if going to break down a bit at least. Needs to hold 12 prior resistance for breakout area

16 May 2018 09:39 am
17-18 has a chance and if rejected needs to hold 13-12

16 May 2018 09:45 am
needs to roll over and break/hold 13-12 if going to have a pullback

16 May 2018 09:46 am
door still open for a run up towards 17-18 holding support

16 May 2018 09:55 am
turn time frame

16 May 2018 10:03 am
17 key or topped

16 May 2018 10:12 am
12-11 key

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

16 May 2018 12:04 pm
that ES has been as for the update holding the 13-12 area after making a double top and now needs to go over 21 and hold 20 to avoid another pullback

16 May 2018 12:09 pm
that ES shot right up to 24 and just missed filling the gap by 1 tick but is in a strong uptrend as long as pullbacks hold 20-19 at most. Should hold 22 if going over 24 soon

16 May 2018 12:15 pm
22 still holding however could come back to the 20-19 area if broken and would need to bounce from that area to keep the good uptrend. If this goes through 24.25 and holds 23 at worst that 27.50-28.50 could be next

16 May 2018 12:18 pm
you can wait for a decent pullback to a support area if there is a stall or a rejection for a trade on the long side, but it's either stalling for a drop or resting for another run up and hard to tell right now but odds favor a pullback

16 May 2018 12:19 pm
probably a small pullback and then another run up

16 May 2018 12:22 pm
has to bounce from a test of 21 or higher with some gusto, otherwise keep coming down through 20-19 where it needs to reverse or have a further breakdown

16 May 2018 12:24 pm
I need to be a way to day until around 1:10 or a little after for lunch break and a couple phone calls. I will update ASAP if/when possible. Right now gave a good bounce from 21.25 otherwise bigger pullback from a lower high likely

16 May 2018 12:57 pm
the ES just missed the 27.50-28.50 zone and turned back down, a break and hold under the 23-22 area could get downside action going. The top should be hard to get above/stick

16 May 2018 01:07 pm
well it's looking like the market can stay very strong as long as it does not go back under the 23.25-22.50 area at worst. So far the high is just 1 tick under the 27.50-28.50 resistance, and a key bounce resistance area

16 May 2018 01:08 pm
should be a top up here for a pullback to the support, but unless broken through and not turned up with some gusto then only a pullback. Could get momentum if it goes further

16 May 2018 01:10 pm
this should be a top to short against now, and holding under this zone keeps it under the major area at 32-33 which would be next resistance above today's high so far. Should not see that area today. 21 minor support if a further breakdown under 23 a

16 May 2018 01:14 pm
goingthat is going to be a top and a chance of taking out the 21.50 area and test or break 19.50

16 May 2018 01:19 pm
bounce off of 22.50 keeping this from breaking down so far again, but this bounce needs to get back over the 24 area and hold or else a chance of another pullback to or through 22 area,

16 May 2018 01:21 pm
still looking top-heavy if this doesn't bounce from a higher low over 22.50 and takes out 24.50 area and stick. update in about 10-15 minutes

16 May 2018 01:41 pm
another pop-up from 22 prior resistance and keeping it in an uptrend and if this goes over the 27.50-28.50 area and stick instead of the rejected, could go to a breakdown area at 32-33

16 May 2018 01:44 pm
looks like another top in place and this could be the start of a breakdown now

16 May 2018 01:47 pm
pop-ups to 25.25 or just above have failed at least 5 times so far to hold over 25 so should be a short with a stop just a couple of ticks above the high of the day as that should not be taken out by much and able to stick

16 May 2018 01:48 pm
breakdown under 22 and hold under 23 after that to get downside going with some momentum. Careful trying to be a buyer at this bottom of the range it might not bounce back this time

16 May 2018 01:49 pm
if it does it's going to need to run up over 25 with momentum and enough to stick and keep pushing higher instead of a poke up and reverse like the other 5 times

16 May 2018 01:53 pm
small bounce failing again under 24 and has to at least take out 24.50

16 May 2018 01:58 pm
well with the bottom of this range holding 3 times, another that holds over 22.50-22 can be bought for a scalp trade at least, just beware that could also be a breakdown taking out that area– especially being range bound

16 May 2018 01:59 pm
moving over 25 again will need to stick and not get another quick reversal back down. That is possible if this keeps going from here with not a lot of momentum

16 May 2018 02:02 pm
25.50 sold again and could poke above the less a move back under 24.50-24 again and set up staying up there and getting some momentum

16 May 2018 02:03 pm
24,792 area on the Dow cash needs to be broken through and also and held for a breakout attempt

16 May 2018 02:05 pm
the way this is acting, right now everything should be okay as long as the 25-24.50 area is not broken. other moves back under 25 had started pullbacks to bottom of this range

16 May 2018 02:12 pm
so far there is a lower high by 1.00 points and as 27.50-28.50 possible and now needs to keep holding 25-24.50 topping pattern could be cause for a pullback/drop

16 May 2018 02:14 pm
has to continue holding 25 otherwise could drop to the 23.50 area or more

16 May 2018 02:16 pm
so far just a poke down to 25 new support and bounced right back so could take out the high on this move and test 27.50-28.50

16 May 2018 02:20 pm
could be a top here as it's shaping up that way if 25 area is taken out and not a quick rebound from that 25-24.50 area

16 May 2018 02:21 pm
could be the start of a decent sized drop with this topping and turning right at 2:20 which is the start of the 2:20-2:40 timeframe

16 May 2018 02:22 pm
look to be short with a stop over the high of the day for this to go down to the 23-22 area and if that's not the fended there would be a breakdown

16 May 2018 02:26 pm
double top on the ES with the second high 1.00 points under the first high, the Dow took out its 12:30 high by about 7 points and turned down. should keep moving lower towards 23-22 or a little bit higher if this is going to hold together instead of

16 May 2018 02:34 pm
needs to take out the 24 area and not get turned right back up again. It is a thinly traded market and just had a quick spike to 24 turn right back up to 25.25 and a minute. But no follow-through so dropping through 24 could get things going if the m

16 May 2018 02:37 pm
ES is going to need to continue holding 24 and run up through the 26.50-27.50 area on this move

16 May 2018 02:42 pm
looks like this could poke up above 26.50 and reach 27.50-28.50 but probably not state up there for very long, otherwise this will continue as a trend up move basically since around 11:30 AM

16 May 2018 02:45 pm
backing away from 27.00 and a move back under 25.50 can make that a top for a while. Bounces probably fail from here, unless resistance broken and it makes a run up to the major area today/tomorrow around 32-33

16 May 2018 02:49 pm
if there is no good bounce from around 26 then this can reverse instead of going to or through 27.50-28.50 like it can if this action continues without double top reversal. –update in about 10 minutes

16 May 2018 02:54 pm
25 still holding now and as long as that acts as new support this can keep going to or through 27.50-28.58 area, but must hold otherwise could be a double top reversal

16 May 2018 03:00 pm
reversal bar and should be a top that is sold against in the last hour now. Could be a breakdown right here

16 May 2018 03:04 pm
going to enter another swing trade to start, with the ES reaching the 2728 resistance and immediate and sharp reversal. look at a bounce from around 22 to fail for an entry at 24-25 if reached

16 May 2018 03:05 pm
put on 1/2 of a position and will look for a entry on the other 1/2 depending on how far a bounce goes or pullback goes first

16 May 2018 03:10 pm
24 reached and rejected for an entry and could go a bit higher if the 22 support isn't broken soon

16 May 2018 03:11 pm
likely will be a bounce 50 and not get up to 25 again if 22 broken by much

16 May 2018 03:14 pm
a little bit like last week on one of the trades where entry area was just touched and not traded through, but still should be a ways to go on this pullback if it holds under 2724 area now

16 May 2018 03:16 pm
at least be short something and stay with this as it could be the start of a bounce from down here would be sold into. It could be one of those 12-16 point pullbacks and possibly quite a bit more if that 28 resistance is last barrier before 32-33 zon

16 May 2018 03:20 pm
could be basing out for a bounce attempt at the 21 area but unless it's strong enough to go up through 24-25 and not get turned right back down it should stay under some pressure and make another push lower towards the 19.50 level and if that breaks

16 May 2018 03:21 pm
attempting a turn around but the 24-25 area needs to be broken through and then held on a dip afterwards on this move

16 May 2018 03:26 pm
that might be it for this bounce if it keeps coming back down through 22 and not turn right up from that area. Need to go over 24-25 and stick and set of reverse if reached in order to avoid bigger pullback underway

16 May 2018 03:28 pm
the market has been making end of the day rallies, and not likely today other than a possible pop-up that gets sold into but otherwise should keep going down through 21 on the way to test or break 18-17.50 area or lower

16 May 2018 03:32 pm
could be for a further breakdown here with this only bouncing back to the 23.50 zone. Has to take out the 2721.50 area to get anything going on the downside now

16 May 2018 03:33 pm
this is going to be a 12-16 point move off of the high and possibly one of those 20+ point moves depending on how this closes today but needs to have a further break under the 20-19 area without turning right back up again

16 May 2018 03:38 pm
in the last 25 minutes the ES needs to avoid breaking 21 otherwise go to 19 area or lower and will stay under pressure unless a move back over 23.50-24 area now.

16 May 2018 03:44 pm
have a great rest of your day. I'll update and then meet you here in the morning. I am staying short overnight and will exit if they somehow drop to the 13-12 area end of day and take 10 points being flat coming into tomorrow. Probably not going to h

 

INTRADAY LOG FOR TUESDAY - MAY 15, 2018

15 May 2018 09:20 am
Good morning. the ES is going to have a big gap down open and there normally has been a bounce attempt to start but 17-16 prior support could be new resistance before 24 where it gap will fill

15 May 2018 09:26 am
this is going to need to get bid up from 13-11.50 but it could have trouble going through 24 area today if not a good run up early

15 May 2018 09:29 am
the 17 area needs to be cleared and held to attempt any kind of run up most likely

15 May 2018 09:35 am
stays in a good downtrend as long as it doesn't go back up over 14 and especially 16-17 area and hold above that.

15 May 2018 09:38 am
turned away from 14 and unless broken and keeps going up through 16-17 it will stay under pressure and go down to 08 area next

15 May 2018 09:39 am
bearish unless this gets over 14 and sticks. And then 16-17

15 May 2018 10:00 am
2703.00-2702.00 major if big down day 97-96 then 88-87

15 May 2018 10:01 am
11 key R

15 May 2018 10:07 am
cover swing trade at 09

15 May 2018 10:14 am
11 need brokr held

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

15 May 2018 11:59 am
the ES has been going sideways with a top at the 12-12.50 support turned new resistance and was range bound until just now and has a shot at testing or breaking the low at major support today

15 May 2018 12:04 pm
if 2703 is broken then 97-96 is next, 92 minor area and 88-86.50 below that

15 May 2018 12:05 pm
we had good odds for a sell off today and yesterday turn from very important resistance and short-term top now. Heading back to fill the gap at 2700 at least if important top

15 May 2018 12:10 pm
double bottom at support at the moment, and needs to be held and get back over 2707.50-2708.50 and hold in order to avoid breaking that area and going to 98-96

15 May 2018 12:22 pm
that ES needs to get over 2707.50-2708.50 or else stay in a downtrend with a chance to break through the lows

15 May 2018 12:24 pm
I am going to be away until around 1:15 today and may not be able to update until that time or a little earlier possibly. I will do my best. Watch 2707.50 area for resistance and unless broken/held will likely test or break 2703 and go towards 98-96

15 May 2018 01:03 pm
over 12-12.50 was reversed and 1 minute and bearish short-term for a move that could go back down to test or break the low if no good bounce from around 2707.50 or higher

15 May 2018 01:12 pm
this should be headed either towards a higher low at 2705.50-2705 area and go up with some gusto, otherwise keep going to and probably through 2703 and test or break 98-96 area possible if 2701.50 not immediately reverse

15 May 2018 01:15 pm
the 12.50 resistance should continue to be a major area to get over to day or else bigger picture pressure on the downside. At the moment, 2710.50 needs broken or going lower again

15 May 2018 01:20 pm
must get going up from 2706.25 pullback low and take out 12.00-12.75 area, but likely to be sold into around that resistance instead of breaking and holding over unless things have changed

15 May 2018 01:22 pm
pop-up to 2709.25 sold, holding under 2910 and especially 12-12.75. Should be another test were break through 2703 and likely 98-96 area the way this is the pain today

15 May 2018 01:28 pm
pressure is going to stay on the under 2708 right now to continue another push lower

15 May 2018 01:32 pm
bounce attempt going to fail like all others and continue to or through 2703

15 May 2018 01:35 pm
needs to hold under 2707.75 area and turned down if heading to or through 2703 and not bottoming out just above that area at least for a while, and if a feeble one then come back down again

15 May 2018 01:39 pm
should keep pushing lower so be short any kind of bounce attempt for a move that takes out 2703 and likely goes to or through 98-96 area if not immediately reversed up from above 2700. Should stay below 2710 at the highest to get there

15 May 2018 01:41 pm
really shouldn't get over 2707 area now to keep good pressure on with bounce from slightly lower low NOTE, I will be gone from around 1:50 until 2:10-2:15 just in case something's happening and I'm not here for update

15 May 2018 01:45 pm
could be another push down but there will be buyers on any push down as they came in after touching 2704.25 higher low so far.

15 May 2018 01:47 pm
looks like it needs to get over 2707 area and can stick it's going to stay vulnerable for a decent pullback still being possible from these levels

15 May 2018 02:15 pm
a new low at 2701 and feeble bounce so far to just 2605.75, and in order to try to push higher than 2703 needs held and keeps going up over 2708

15 May 2018 02:30 pm
a quick reversal up after touching 2701 a second time and now needs to take out 2708 and hold or turned up six from a times and hold back around as for 2704 or higher

15 May 2018 02:32 pm
he's area at 12-12.50 area if it gets there and should see some hold back home that area, but if broken then would need to hold 2713 otherwise another decent pullback – not to a new low – possible

15 May 2018 02:36 pm
this should push up to 12-12.50 area and see if it can break through or else another turn down from that area. Beware of a pullback of some sort if it doesn't go up with good moment

15 May 2018 02:40 pm
touched 12 and turned down and needs to hold and turned up from 2707-2706 back up above 2712 area or else could continue back to test the low area one more time

15 May 2018 02:41 pm
bouncing off of a double bottom however still in a bigger picture downtrend right now and needs to take out 12-12.50 area and hold today to avoid more selling, must bounce with gusto from 2707-2706 or keep going to the lows again possible

15 May 2018 02:53 pm
this bounce should fail at or around 2707-2707.50 area and come down if it's going to keep its downtrend from this bounce high at 12 and another leg on the downside coming and set of back up towards 12

15 May 2018 02:58 pm
came into today with a short position on and covered after the open under 2709 for a nice ~26+ point profit, after making a couple trades with 1/2 of the position that were profitable. As for today, this is likely not a 1 day move and would look to s

15 May 2018 02:58 pm
likely going under 2700 before this leg down is over with and that should be easy

15 May 2018 03:02 pm
would need to take out 2708.50 and not reverse and keep going up and take out 12-12.58 area and keep going – otherwise continue selling to a lower low, or at least test the low area a third time

15 May 2018 03:06 pm
2703 holding on the pullback and is still support to hold at the end of the day to avoid dropping down to or through 2701 another time. Still a downtrend under 2707-2708 right now for lower prices

15 May 2018 03:08 pm
barely a bounce attempt so far and should keep working lower under 2707

15 May 2018 03:13 pm
if this cannot bounce back over 2705.50 area then it's going to keep grinding lower and take out 2701 and test or break 98-96 area if that happens

15 May 2018 03:17 pm
a chance that this could sell off into the close if there is not a rebound in the last 45 minutes from this test of 2702 back up over 2708.50 and especially 2712 area, market stays in a vulnerable position

15 May 2018 03:19 pm
have a great rest of your day. I will be here tomorrow morning after you have read the nightly update. Take care!

15 May 2018 03:20 pm
in order to save itself from crumbling at the end of day, once again, then it would need to bounce from this 2702 area back over 2705.50-2706.50 and stick which could get the upside going and avoid one more push lower which would test or break 2701 i

15 May 2018 03:21 pm
if that area is NOT cleared, then the door is opened for a late day plunge which hasn't happened in a long time. Take care and would be short something still just in case

15 May 2018 03:26 pm
if this can keep going, then look for 98-96.25 area for a rebound attempt but would need to go back up over 2700 and stick if reached

 

INTRADAY LOG FOR MONDAY - MAY 14, 2018

14 May 2018 09:21 am
good morning. there is going to be another gap up open, and if this keeps going up without coming down to at least to 32 it could possibly test 39.50-42.50 zone

14 May 2018 09:26 am
there is a big cluster of resistance up there, where a gap happened and a bounce high and also 42.50 would be symmetrical move on 60 minutes chart. Anyhow, this early strength should be sold probably under 32 at least

14 May 2018 09:29 am
there won't be as many updates, as I give way too many and will try to update more important info and not micro trading

14 May 2018 09:39 am
tiny pullback from under 37.50 so far, need to hold 34.50 area and turn up if going to avoid topping early here and going down to or through 33-32

14 May 2018 09:43 am
so for held 34.50 and needs to take out the high soon if going to make a run up towards the 40 area. In any case needs to stay over 34.50-34 otherwise bounces failed

14 May 2018 09:47 am
stopped at the 37.50 resistance and needs to have just a small pullback and run up one more time to get to the 39.50-42.50 area

14 May 2018 09:51 am
could be a high at 38.50 if they break and hold under 36 area it looks

14 May 2018 09:53 am
otherwise still could be headed towards 39.50-42.50 zone just above

14 May 2018 09:59 am
getting to the 39.50-42.50 area and it is around 2741.37 on the S&P 500 cash to fill a gap. Should have trouble getting over and holding now. Could be an early high up here and if not then another bounce that's feeble and pokes into 40-42.50 area it

14 May 2018 10:01 am
internals are very strong and the VIX is actually up 3%, topping out up here could end up with the decent sized pullback. 37.50 needs to hold now or a bigger pullback

14 May 2018 10:04 am
37 held but still should be a top but if not and one more pop up to the updated zone at the 39.50-42.50 area then it should be a great short with a tight stop a little over 42.50 at most

14 May 2018 10:16 am
bounce from the 34.50 updated support could make a double top if a pullback of more than 1.50 points not immediately turned up otherwise poke up into the 39.50-42.50 zone

14 May 2018 10:31 am
a new high at 40 will need to have some follow-through but not get past 42.50 before turning down otherwise this could break all of the resistance from March gap down and bounce high area

14 May 2018 10:38 am
no sign of a breakdown yet and just poked over a gap area from 3/15 at 2741.47 on S&P 500 cash. also on a 60 minute chart, symmetry on this leg being equal to first leg up. Should be a high made and that 41-42.50 area or else melt up towards 47-48 a

14 May 2018 10:43 am
needs to turned down from 42.54 lower on this bounce and break 39.50-39 in order to have a high and place that could turn out to be an important one

14 May 2018 10:45 am
should be a high and place and if not then another pop-up should be sold at or under 42.50. A break under 39 that sticks can get things going on the downside

14 May 2018 10:50 am
you want to be at least partially short something up here with the ES and S&P 500 cash making it to a major area and backing away as one part

14 May 2018 10:52 am
also very strong internals would have had all internal gauges at extremes, and a VIX reversing up finally.

14 May 2018 10:54 am
if that's not a top, then one more run up to that area that stalls out or shows some rejection like the last time up at 41. if there is going to be a bounce 37.50 needs quickly turned up with gusto otherwise keep going to or through 35-34 potential b

14 May 2018 11:00 am
a chance for this to be one of those 12-16 point pullbacks if a breakdown to lower low at 35

14 May 2018 11:03 am
35.25 pullback low so far, if broken and then could be heading towards 32 to fill the gap on daily chart (day session)

14 May 2018 11:06 am
bounce attempt from 35.50 doesn't have any moment some so far and has to go back up over 38-38.50 and not get turned back down from there but will have limited upside with good sellers above

14 May 2018 11:10 am
37.50-38.50 area should be sold into if this is going to be a feeble rebound and back down again

14 May 2018 11:18 am
backed away from 38.25 updated resistance but so far held 36.50 and quickly turned up, so another pop-up should be sold into and then bought again if another higher low gets turned up

14 May 2018 11:23 am
good sellers just above to sell another bounce attempt at the 39.50-42.50 area, and taking out 38 and not getting turned up with gusto could be the start of a further breakdown attempt heading 24 likely through 35.50-34.50 new major/breakdown/pivotal

14 May 2018 11:24 am
this is a big picture short with a stop at 42.50 at the moment. good opportunity to short several times

14 May 2018 11:32 am
ES is going to need to take out the 34.50 level and not turn right back up or else it could stay in a trading range for a little bit longer but should eventually break to the downside. A top should be in at 41.25 – almost direct hit on major resist

14 May 2018 11:37 am
should stay under some selling pressure in this trading range unless 37.50-38 broken and not turn right back down

14 May 2018 11:39 am
37 reached and stalling so need a move over 37.50 that can stick or else drop back to or through 35-34.50 and a potential for a breakdown if that happens

14 May 2018 11:45 am
should have entries on short positions from around 39-38.50 area and with this about two come down to 32.50 and fill the gap there should be a rebound of some sort and then if 37 not broken/held make another push lower after a failed a bounce

14 May 2018 11:50 am
32.75 was reach for a target and now needs to be able to be strong enough to go back above 37 otherwise bounces continue failing and a drop could go to 30-29 area, and if a decent selloff than possibly 23-22 area.

14 May 2018 12:01 pm
very slow move higher after missing filling the gap by 1 tick so far as it needs to go to the 32.50 Friday high. Right now it looks like 34 needs held and take out 37 to get upside going

14 May 2018 12:04 pm
just had a quick run up from the 34.25 level get to 38.25 in <2 minutes and quickly back down and should bounce again from 36-35 or higher with a Sprint again to avoid possible breakdown attempt

14 May 2018 12:15 pm
with the ES going sideways at the moment, look to cover 1/2 of short position at 34.50 or better to assure at least ~3.50 points profit on part and then reenter that 1/2 at higher prices or possibly a bounce after breakdown

14 May 2018 12:18 pm
I will be away until around 1:15, but will update if necessary ASAP. I could be on phone call so just in case something happens and I cannot send.

14 May 2018 12:24 pm
one quick note before taking off here for a few minutes, we have a high today right at a major area where previous important action occurred, which should make for an important zone which failed so far. also 3 ticks from equal distance symmetrical mo

14 May 2018 12:25 pm
Also, the VIX reversed and internals were VERY strong early to give sell sigs if a close that strong. So far a narrow range and eight also, and at a top, and unless the highs are taken out the market should be vulnerable and Solon bounce attempts

14 May 2018 12:45 pm
look to add back 1/2 short position on any kind of bounce from 33 and there or bouncing to 34-34.50 but it's under some good pressure under 35-35.50

14 May 2018 12:50 pm
60 EMA down here where it bounced from testing the lows on this last trip down, so needs to break down. And test 28 or lower. getting back over 35.50-36.50 can get something going on the upside if broken/held

14 May 2018 12:54 pm
finally broke down to fill the gap and so far only about 9 points from the top and can go another 3-5 or more points just for "minor" pullback in about average unless going 18 points or more

14 May 2018 12:56 pm
update in a while. This stays bearish as long as 36 area and not broken/held for now and if 29.50 Friday close is not broken then a chance for a bounce but it should be taken out and closed lower today now. We are still in shorts and target around 23

14 May 2018 12:57 pm
that would be big target, and big support down at 23 area. At the moment 29.50 and then 28-27 before that zone

14 May 2018 01:08 pm
28.75 reached so far, could be a low for a bit if the ES gets back over 31-32 and not turn right back down. 27-26 would be next and short-term major area to hold today/tomorrow is now the 22.75-22 area. Needs to keep holding under 32-33 area. I'll up

14 May 2018 01:23 pm
turned down from 31.25 to a new low at 26.25 so far and heading for the 23-22 area most likely. Would like to squeeze the most out of this trade as possible with entries around 36.50 average now. With the bounce from 26, could be a low and not reach

14 May 2018 01:30 pm
attempting a turn around from the minor support at 26, and still needs to at least get through 29.50-30.25 area and be able to stick instead of another downturn from that downtrend resistance

14 May 2018 01:36 pm
29.50-30.25 area broken after a retest of 26.25 was immediately turned up. With that tiny double bottom in place, it should hold as a low for a bit and give a little more upside, but come back down towards that area again

14 May 2018 01:51 pm
bouncing back to 33-32 breakdown area and needs to go under 30.50-30 against without popping back up if heading down to test the lows again. Looking to take off 1/2 at 28.50 and reentry depending upon how the rest of the day goes

14 May 2018 02:07 pm
Took off 1/2 at 28.50 as suggested, +7-8 points, and keep a worst-case stop at around 36 entry area. Should continue holding under 32-33 and be heading towards 23-22 like a magnet short-term it looks

14 May 2018 02:09 pm
wasn't so sure about another lower low today but possible two-sided action around the low but since double bottom broken another bounce attempt possible and also should fail around 27.50-28.50 or hold under that area

14 May 2018 02:12 pm
you are going to want to hang onto at least 1/2 short position and keep it overnight as long as the ES looks like it's going to stay below 33 area at the end of the day. This will possibly break string of being up 6 out of 7 days on S&P 500 cash also

14 May 2018 02:18 pm
broke the low and is holding under 26.25 at the moment and should be testing or breaking 23-22 on this move. Would need to bounce with much momentum to reverse – not likely

14 May 2018 02:26 pm
if this takes out 27.50 and holds 26.50 area after that then there is a chance for a bounce back up to 29-30 area or a little lower as it should be hard to get through unless a good run up from this low

14 May 2018 02:29 pm
17 point pullback from the early high to the low and reversal starting around the 2:20 time frame. Should be important low now, and goes back towards that area if this holds under 29

14 May 2018 02:36 pm
if this continues to hold 28.50 it could be going for the 31.50-33 area which is a major area to clear this afternoon

14 May 2018 02:40 pm
there has been a 17 point pullback from top to bottom, but that top was at a pretty important area in a couple of ways. in any case, still holding over 28.50 and in less broken there could still be a pop up to 32.50-33.50 area but should turn away

14 May 2018 02:47 pm
with this not able to get over 32-33, bigger picture selling pressure still on and will probably look to put on the 1/2 that got about +3.50 this morning and +7-8 after reentry this afternoon. but leery of being loaded up on the short side the way th

14 May 2018 02:52 pm
that 27 levels should be good pullbacks support to keep the market from making lower lows late in the day, and try getting to or through 32-33 on this move up

14 May 2018 02:55 pm
run up through 32-33 and keep going or only have a tiny pullback hold and go up again. Otherwise could have late day pullback instead

14 May 2018 02:59 pm
unless there is a last hour drop, things have not changed yet even though the S&P 500 cash made its high around good chart resistance and ES only a little under 42.50

14 May 2018 03:02 pm
looks like this once two make a move to test or break out over 32-33 and either gets rejected fairly hard or only a tiny pullback before another little push higher, but not good that it turned down under 32

14 May 2018 03:10 pm
if this holds over 29.50 area it can attempt one more push higher and would need to take out 32-33 and not turn right down from that area but a tiny pullback again to keep upside is going

14 May 2018 03:13 pm
at the moment this choppy upside needs to go through 32-33 or else a move back down through the 29 area could start another pullback although likely not back to the lows. However taking out 32-33 probably only gives a little run up to around 36 and m

14 May 2018 03:16 pm
33 touched and rejected and that should be a high for the end of the day. Would need to be strong enough to break and hold over that area, and should not be easy to do today as this has lower to go and 23-22 in the cards today or tomorrow – most li

14 May 2018 03:19 pm
if there happens to be another level run up going above 32 and coming back below that level would be a short also. This should begin to break down fairly soon if it is going to and several popping up first. The short whatever the case has 33 should n

14 May 2018 03:27 pm
backing away a bit from 32, and if 29.50-29 area broken then could see a spike down towards 27 and then pop up again. But would be bearish if reached

14 May 2018 03:29 pm
this might have a chance at testing 33, and if one more move up there is rejected in the last 30 minutes things could be changing for the short term and today an important top for a while

14 May 2018 03:34 pm
in the last 30 minutes the ES needs to continue holding under 32 area and if that is the case and there is a break under 29 area that stays under that area than this could end up going to 26.50 area and if that does not hold then possibly 23-22 by th

14 May 2018 03:41 pm
still holding shorts from higher up at 36 area basis ES and stop is at breakeven for the rest of today. 23-22 area is the first important support/target and just under today's low so far. cover half if that is reached by the end of the day. Needs mor

14 May 2018 03:46 pm
have a great rest of your day. I will send an update and then catch you tomorrow morning with quick market comment before opening. Going towards the lows so look to cover 1/2 again if 23-22 area reached otherwise keeping position overnight

 

INTRADAY LOG FOR THURSDAY - MAY 10, 2018

10 May 2018 09:01 am
break under 93 and should continue to be solon bounces down to the 90.58 area or lower possibly and end the day with a mini breakdown

10 May 2018 09:07 am
Good morning! it looks like yesterdays breakout is going to stick unless this gets sold from the open and has a trend down day, but two-sided day more likely. an open over 2700 would be another gap up open and needs to hold around 2700-2699 to avoid

10 May 2018 09:18 am
could come down to or through 2702 area and that could be pivotal early. If it doesn't go down there in the first 5-10 minutes then might have a chance to try for 2707-2708 or lower before dropping

10 May 2018 09:25 am
should be sold at or below 2707-2708 or would be a huge gap left and would need to go to melt up mode taking out 2712 and holding

10 May 2018 09:32 am
going for 2707-2708 area where it should back away from or else they melt up towards 12 area next possible. Need to hold 2703-2702 at the most or could be top in place

10 May 2018 09:34 am
being rejected at 2706 and could be a top if any further weakness

10 May 2018 09:35 am
2703-02 reached and bounced so unless broken/held buyers still in control

10 May 2018 09:37 am
nailed resistance and backing away and needs to break under 2705-04 and hold and a top should be in place. If not then sold on the next pop-up

10 May 2018 09:39 am
need to break under 2704 without immediately turning and sprinting higher to a higher high. Should be a key area around 2705

10 May 2018 09:41 am
going to need to take out 2705 new key area otherwise could take out 2708 still but needs to stick or still could go to or through 2705

10 May 2018 09:42 am
I will meet you guys online around 10:20

10 May 2018 09:45 am
could be a top if they move under 2706 and not turn up now. this bounce should fail. See you in a bit

10 May 2018 09:54 am
2705 still key area to hold

10 May 2018 10:00 am
top

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10 May 2018 12:01 pm
after the gap up open held at 2703 and just above 2702.50 prior resistance the ES made a double bottom and has gone trend up with just small 1.50-2.25 point pullbacks maximum and reached 2718 resistance so far, and as long as 2716 holds still good up

10 May 2018 12:06 pm
next resistance zone above is around 22 area if this action continues

10 May 2018 12:08 pm
this has been like yesterday with tiny pullbacks of only about 2 points on the way up until finally having a decent rejection in the afternoon. Should continue unless a breakdown which is unlikely right now

10 May 2018 12:10 pm
it has turned into the opposite of a panic selloff almost, as this goes on a straight up move after a little bit of sideways action in this uptrend. 22-23 area could reached after a tiny pullback if this is going to continue like this

10 May 2018 12:16 pm
if things change then 18-17 will be a major support now for the rest of the day and a decent pullback would need to hold that area or else a bigger reversal would be happening

10 May 2018 12:20 pm
needs to turn up from 19 at worst otherwise could be breaking upside symmetry with the small pullbacks and leave a top in place just under the 2722-23 resistance area for now

10 May 2018 12:21 pm
the Dow has stalled while the NQ is dropping fairly sharply and the ES might be topping out if it doesn't bounce from 19 was some gusto back above 21 and reach 22-23 area before backing away again

10 May 2018 12:26 pm
another pop-up after a 2 points pullback and stalling, and should reach the 22-23 area on this move for this to keep a good strong upside going

10 May 2018 12:27 pm
I am going to need to the away until around 1:10 or a little after and will update only if possible, which is going to be hard to pull off today.

10 May 2018 12:30 pm
as long as the ES continues to have ~2 point pullbacks it should the in a strong uptrend, but if more than that off of this top then another bounce likely sold and could change dynamics

10 May 2018 12:47 pm
beginning to look a bit top-heavy up here and would look to sell a pop up and especially if it gets to a token higher high – which it may not do this time – unless breakdown of that taking out 21-20

10 May 2018 12:50 pm
need to hold under 23 to keep any pressure on and take out 21 new support to break symmetry and current uptrend support area

10 May 2018 12:51 pm
a test of the high area would be sold again, or a token higher high if that happened, as this has topped out and heading a bit lower and possibly a bigger pullback/breakdown this afternoon if the 18-17 area does not hold

10 May 2018 01:02 pm
3 point pullback put dent in the upside and this run up after a stall happening again but not sticking over 23.50 and must hold around 21.50 at the very lowest or current uptrend to test were break the high could be broken instead

10 May 2018 01:05 pm
consider 20.50 and then 18-17 if not held as major uptrend support the rest of the day here, will need to hold over those and not stop unless a topping pattern of some sort or reversal of some sort. Just should be hard for the new high to hold very l

10 May 2018 01:23 pm
this choppy move higher just had another 2-3 points pullback and the bounds so far is not going up with a gusto but is feeble at the moment, and needs to hold 22.50 area in order to keep uptrend going and must make another higher high

10 May 2018 01:25 pm
a double top attempt at the moment and should get going under 22.25 area in order to have a high in place – at least for a while

10 May 2018 01:26 pm
time to be shorting now under the highs, or even a token higher high, as these last two have failed in this second one is one of the biggest pullback so far today

10 May 2018 01:27 pm
can keep on coming down under 20 by a bit before any bounce attempt

10 May 2018 01:29 pm
or just above, which it's doing at the moment, but a bounce back shouldn't get past 22-23 area and stick very long if reached

10 May 2018 01:29 pm
get short up here with stops above the high of the day is that should be our top and possible drop back under 17.50 area which could open air pocket drop lower possibly

10 May 2018 01:33 pm
click bounce from 19 where the 12:25 PM run up started and should be tested or broken to go 18-17 area which should be a key area to hold (or break and hold) to bounce or break down from up here

10 May 2018 01:35 pm
using bounces at or under the high of the day for buying some put options, for a trade from somewhere up around here or a bit higher and then look to add 1/2 or exit depending on how the ES does later this afternoon

10 May 2018 01:37 pm
or being strong enough to break and then hold over 24.50-25 highs of the day – but then only get to 27.50-28.50 if Broken

10 May 2018 01:42 pm
should continue this drop to or through the 18-17 area now and turned up or else keep going down towards 13-12 could be next.

10 May 2018 01:44 pm
a bounce from 17.25 support however should continue seeing bounces sold especially holding under the 21-22 area.

10 May 2018 01:51 pm
so far reached 16.50 and 14 is the middle of today's regular trading hours range that probably needs to hold if there is going to be any kind of bounce attempt, but internals were extremely strong and the VIX at 12.92 (just missing 12.80 mega major e

10 May 2018 01:58 pm
going to get further breakdown with this feeble bounce turning down at 18.50 which is now the bottom of a pivotal area around 18.50-19.50 if a bounce attempt occurs. Still could go to or through 14 area before bouncing if 16.50 broken 1 more time. A

10 May 2018 02:02 pm
another failed bounce and lower low and holding under 18.50-19 keeps pressure on and it should be going to or through the 13-12 area again and maybe a further breakdown

10 May 2018 02:11 pm
this bounce from 14.75 had better bounce than expected on this move but the 21.50 area should be hard to get over and hold unless heading back up to the highs, so beware of a pullback there or just below

10 May 2018 02:13 pm
another pullback from 20.50-21.50 should hold the 18 area or higher if going to get another run up of some sort to take out 20.50-21.50

10 May 2018 02:18 pm
if this sideways stall last much longer it should end up with a Sprint on the upside if it acts like it has been especially in the morning lately

10 May 2018 02:22 pm
a failure to do so will just mean things have changed, and the ES could begin rolling over instead which would really be a switch from recent action

10 May 2018 02:23 pm
and here it goes. And should be a bounce high in place on the way to or through at least 17.50 which should be a key area. Breakdown if no quick reversal

10 May 2018 02:25 pm
it has been the 18-17 prior resistance area which has been pivotal up here. A feeble bounce so far and break under 18-17 needed to put more pressure on to test or break 14 area

10 May 2018 02:34 pm
another failed bounce attempt at the 21 level and should be more selling soon if the ES takes out the 18 pivotal area and then possibly gets some momentum on the downside if that happens

10 May 2018 02:36 pm
bounces are being sold again and there has been a few decent pullbacks from up here where shorts were recommended earlier, and could continue going down to test or break 14.75 pullback low. A drop down to 14 would need instant reversal else trouble u

10 May 2018 02:38 pm
we have already have had and still have very strong internals and the VIX dropped all the way to 12.92 and turned up at noon ahead of the top which was a heads up I didn't see at the time. Bounces should continue failing, even if bounce from 14

10 May 2018 02:41 pm
12-11 should be a key area to hold otherwise further breakdown from up here

10 May 2018 02:43 pm
if you got in a short trade earlier and cannot hold overnight then you might consider covering on this pullback to the 13 level as key support is right under that level and it should hold or else a bigger breakdown would be possible back towards 2709

10 May 2018 02:44 pm
you can get 15.50 or better for an exit at the worst and likely get them lower on next pullback if this turns down again from the 18 area or below

10 May 2018 02:47 pm
18 area has been pivotal in where the breakdown came from so beware of another back away from around there or just above and then bid back up again

10 May 2018 02:49 pm
this has a chance at the 21 area again and would need to go through and hold if reached again and not have a rejection after going straight up from this last below. Could see 23.50 if broken

10 May 2018 02:50 pm
should be some pullback but if so buyers are going to come in again, especially a test of 18 that holds

10 May 2018 02:56 pm
updated resistance that 21-22 still a bounce high, and if it doesn't push higher soon from 19-18 area then could be another breakdown of some sort going on although maybe not all the way to that low area if that is what it is

10 May 2018 02:58 pm
stalling a little bit so needs to turn up soon from 18 or above

10 May 2018 03:03 pm
another pop-up sold into this time above resistance up at 22.50, but those moves are not going to stick and stay short as this. End up with a decent poll but/breakdown today or tomorrow

10 May 2018 03:09 pm
if this goes under 17 and stays under 18 areait could get momentum and back down to the 13-11 area where there is good support and would be bought if reached most likely

10 May 2018 03:13 pm
although the averages are up quite a bit on the day, after the trend up move made its 123 top around 1:25 PM and started the reversal the choppy moves have been sold off pretty hard several times, and was run up a couple of times also. So it looks li

10 May 2018 03:22 pm
could be move to the downside if this choppy range is broken on the downside at the 16.75 level, so basically take out 17-16.50 area without turning right back up. It stays out of trouble unless broken it appears

10 May 2018 03:24 pm
in the last 35 minutes or so another run up could happen but likely not stick again if so, but if not and the ES goes back under 17-16.15 then there could be a late day drop of some sort that may or may not bounce back from a move down to 14.50 or ev

10 May 2018 03:32 pm
PS: it's still in a partial position on the short side from around the 21 area at worst, either keep your stop at breakeven and cover if one more spill to 17.50 or more to lock in profits or stay short with your stop at breakeven into tomorrow. May a

10 May 2018 03:34 pm
did not get the sizable drop that could have happened in the last couple of hours like it has gone on other days. Although there is still time for another good drop at this doesn't hurry and get back over the 20 area and stay up in that area. Take ca

 

INTRADAY LOG FOR WEDNESDAY - MAY 9, 2018

09 May 2018 09:10 am
Good morning!the market is likely going to gap up after yesterday's late comeback. It should be under some selling pressure holding under 81.50

09 May 2018 09:12 am
so expect the early strength to be sold into and then a decent pullback bought per last night's update

09 May 2018 09:24 am
the ES made it just over 84 overnight before turning down and coming back down to 77 so far and needs to get up there and stick instead of reversing to attempt breaking top of current range

09 May 2018 09:25 am
should be sold at the 77.55 and 78.50 area

09 May 2018 09:31 am
needs to take out 78.50 or else go down to or through 74.25 area to fill the gap

09 May 2018 09:34 am
75.50 important support now if going to go to or through 81.50-83.50. need to hold 77.50 at the worst for a chance of getting over 80 however it may not stay up there very long

09 May 2018 09:37 am
backing off of it from 81. prior resistance at 78.50-77.50 and important to hold now or else would begin to get top-heavy and might be reversed.

09 May 2018 09:39 am
top in

09 May 2018 09:39 am
74 target

09 May 2018 09:40 am
should go further but bounces should continue to fail now. I will meet you online today around 10:20

09 May 2018 09:46 am
this is about as far as a bounce should go if it's going to go back down to its low rather than a test or break of the highs,

09 May 2018 09:48 am
it's going to reverse if it comes down through 78-77 and not get turned right back up again. A chance to pop up towards 80 area again if held but not much longer if it's going to get up there and not breakdown some

09 May 2018 09:50 am
only 2-3 points under the top of this range and needs to continue holding 78 otherwise potential rollover. I will meet you online around 1:20

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

09 May 2018 12:27 pm
81-80 now S and hold is bullish

09 May 2018 12:30 pm
85-83 shouln't be brokrn

09 May 2018 12:39 pm
Okay, that ES made it to the 88 major #2 resistance and potential reversal area and only backed off a little bit and needs to hold the 81 area in order to keep from a potential reversal attempt

09 May 2018 12:47 pm
The ES is still going to be in a good uptrend as long as 85.50 area holds now and if that is broken instead then only pullback to go around 83-82 at worst it looks. Good uptrend and momentum right now and pullback should be bought on the way to 92 an

09 May 2018 12:54 pm
Now that the ES has taken out the top of its range it needs to hold the breakout area which was around the 81.50 area and it got started around 12:20 going through 81.50 to 88.25 resistance only to 85.75 and up

09 May 2018 12:56 pm
But ES will stay very strong holding at or above 88.50-88 area on a pullback. Still looks headed to/through 94.58 areaIf no reversal up here

09 May 2018 01:06 pm
just made it to 1 tick over 93.50-94.50 last listed resistance, and could turn out to be a high for a while but only if there is a move back under 91-90.50 in order to make a reversal pattern up here

09 May 2018 01:07 pm
just a small pullback and then another push higher otherwise. The 18 EMA on the ES 1 minute chart has been holding and close to that level right as first support at 92.25

09 May 2018 01:13 pm
starting of pullback and needs to hold 91-90.50 in order to avoid what could be a bigger breakdown and not just another small pullback in a strong uptrend

09 May 2018 01:16 pm
still just a tiny pullback but a bigger one should happen if this cannot take out 94 on this move up and then turned down a again

09 May 2018 01:17 pm
I am going to need to take at least a short break for a while, as I have been at it since just after the live session was over. We should get a shakeout here and needs to hold 90.54 calls bigger breakdown coming if a break under 88 also

09 May 2018 01:24 pm
bounce off of 90.50 support, and is going to need to make another higher high and tidy pullback afterwards in order to keep this going. 90.50 area should be important to hold now

09 May 2018 01:26 pm
can still buy dips as long as over 90.15 now, otherwise down at lower areas of new support I will be back in about 15-20 minutes unless an update is needed. Double top here possible as it's going to be hard breaking the high and holding I think – f

09 May 2018 01:40 pm
rolling over a tiny bit from the 97 level and should not go to the 93 area but instead keep going up to or through 98 and on towards 2702 by the way the market has been acting today with buyers coming in on every little dip

09 May 2018 01:49 pm
this move likely last until 2:30, we have a gap day turning into a trend day and the low made 90 minutes after the open and high could be 90 minutes before closing. However, but turning at 2:30 probably won't happen with this in trend up mode

09 May 2018 01:51 pm
I think this is going to try taking out 98.50 in which case opens the door for a move over the 2700 level up to around 2702 a possibility. If reached and drops back under 2700 would be a red flag for potential further pullback of a couple more points

09 May 2018 01:58 pm
a little trouble around updated resistance at 98 but unless this those under 95.50 and especially 94, it would start more than just a pullback and bounced back close to or over the high

09 May 2018 02:02 pm
just made a double top and should begin a pullback of at least 4 points and likely more than back. Look to short under the high

09 May 2018 02:06 pm
I haven't looked at the VIX today until just now and it went all the way down to 13.75, a mega extreme short-term. Made a higher low at 13.76 at this high and close to reversing, which would go up while prices go down. just one indicator not enough t

09 May 2018 02:11 pm
buying the VXX around 35.65-39.50 can pay it off nicely if things change and the VIX makes a decent jump from down here. But, the ES should still be bought on dips has it's a trend day and strong trend and momentum

09 May 2018 02:13 pm
another higher high made at 2699.75, stopping just under 2700 for now but should still poke up to 2702 area and then hold 2700. A move back down under 2700 could be a reversal if that happens. Right now no damage done as long as 96 continues holding

09 May 2018 02:20 pm
2700 was just and backed away and now it should be a top with any bounce from here being sold. Would be short under the high for now and breaking and holding under 96 could get this going down to or through 93-92 or more

09 May 2018 02:24 pm
sentiment has shifted, with the VIX reversing along with the ES after the VIX made a new low at 13.69 and turned up at 2:15 PM. Could be another pop-up, but not able to hold and come back down to/through this area and just a bit. Resistance at 97 are

09 May 2018 02:27 pm
heading towards the 92 area and if that isn't held can keep on coming to or through 90.50 area

09 May 2018 02:32 pm
a bounce should go too much further if it's going to roll over and have another decent drop from up here. The 96-97 area should be good bounce resistance that's hard to get through and hold if a high is in place

09 May 2018 02:39 pm
the drop from 2700 down to 2693 was biggest pullback since bottoming at 2672 just before 11 AM. But still has momentum in favor of buyers, but if 93 is taken out things may be changing. Still appears a top could be in place unless a good run up from

09 May 2018 02:42 pm
up turn from 95.50 needs to take out the 97.50-98 area and not get turned down like it looks it will if reached and that could mean another move lower and seven of potential test of 2700, and if higher up to around 2702 area and then reverse

09 May 2018 02:48 pm
is going to need to continue holding the 95.50-95 area or else bounces would begin failing instead of pullbacks all still being bought. The next one should be bought also benefits above 93

09 May 2018 02:52 pm
backing away from a lower high at 2799.50 and a 123 top at the moment, unless the high is broken, but still has to take out at least the 97 area and hold under 98 after that in order to get downside going for a bit

09 May 2018 02:57 pm
I have a feeling that my 3 day thrust oscillator is already at an extreme overbought (it was at 48 last night and over 50 is an extreme) but not sure about others, except RBI oscillator will not be overbought. Sentiment will be overly bullish. Howeve

09 May 2018 03:10 pm
ES has rallied just under 48 points off of the 2652.25 low from yesterday so far. That's a pretty good run up after a couple of other big run-ups. Well likely back away from 2700 area but not drop to far unless it moves back under 96 without turning

09 May 2018 03:14 pm
sliding away from 2700 a bit too much and now look to get short on any kind of bounce with a stop just over 2700 for a decent sized pullback

09 May 2018 03:16 pm
could see that coming, wish I had gotten it out sooner but now this has a shot at taking out the low at 93 and may still have a shot at another run up if 93 is not taken out. Continuation down through 90.50 would not be good if that happened without

09 May 2018 03:19 pm
this chart pattern normally is a bearish one and especially if a first bounce yet sold about halfway back up which would be around the 96-97 area

09 May 2018 03:24 pm
pop up to 95.75 level and it is 96-97 that should be new bounce resistance that's turned down if headed towards 95.50-90 or lower

09 May 2018 03:29 pm
so far the bounce was sold at 96.00 and at the 96-97 updated resistance to hold under and turned down from in order to keep pressure on for a break under 93.50-93 double bottom and continue down towards 90.58 area if no bounce from 93

09 May 2018 03:31 pm
with this pullback still holding 93.58 keeps this strong enough for one more run up. Needs to begin by going through 96-97 without failing and continuing up to or through 2700 high of the day

09 May 2018 03:32 pm
in the last 30 minutes it is still the 93.50-93 area that is going to be an important to hold because a break of that area not turned up quickly should begin a breakdown of sorts

09 May 2018 03:32 pm
look for bounces to fail at the 96-97 area, shouldn't get over that unless it's going back up to the highs.

09 May 2018 03:33 pm
have a great rest of your day. It's still a short up here, and worth keeping part on overnight for me as long as the end of day doesn't look like closing over 2700. Take care!

09 May 2018 03:37 pm
break under 93 and should continue to be solon bounces down to the 90.58 area or lower possibly and end the day with a mini breakdown

 

INTRADAY LOG FOR TUESDAY - MAY 8, 2018

08 May 2018 09:14 am
Good morning. as long as 66 holds there could be a little bit of a bounce early but hold under 73.50 to stay bearish

08 May 2018 09:23 am
since I won't be able to advise about a trade that's on probably should just cover on the open, although bounces are going to have a really hard time holding under normal conditions

08 May 2018 09:26 am
has to get over 72.50-73.50 and stick to have a shot at yesterday's highs and top of the current trading range but probably should go that far or a lot stronger than anticipating

08 May 2018 09:27 am
I'll update 5-10 minutes after the open and then meets you online around 10:20 40 level after

08 May 2018 09:33 am
could be a low only if a move over 67.50 and hold 67-66.50 and it's looking like

08 May 2018 09:34 am
should hold 66.50 at worst now

08 May 2018 09:35 am
needs to keep going over 70 at least and hold to get going on the upside and avoid a bounce being a failure and coming back down again

08 May 2018 09:37 am
66.50 broken through and bounces should continue failing and a chance of seeing 58.50-57.15 area early on a push through yesterday's low not reverse

08 May 2018 09:39 am
should end up with a break through 62.50 double bottom from yesterday so far if a bounce cannot get back over at least 66 and hold

08 May 2018 09:39 am
I will meet you online around 10:20. Bounces should continue failing

08 May 2018 09:49 am
60.50, then 58-57

08 May 2018 09:57 am
62-63 pivotal now

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

08 May 2018 11:58 am
so far we've had a low just above the 58.50-57.50 support zone, with buyers defending 61.50 on the way back down to retest or break the low earlier. A new high was made, then right back down to 63.75 and bounces should keep failing until testing/brea

08 May 2018 12:00 pm
even though this has been pretty much range bound like yesterday, there is some pressure on as all of the bounces are being sold into – after coming off top of short-term range overbought and overly bullish

08 May 2018 12:02 pm
ES in somewhat of a range with the Dow and the Dow needs to break 24,312 and the ES 63.75 to keep pressure on pulling the market lower

08 May 2018 12:05 pm
most important area for the Dow on this pullback is 24,296. if broken and not quickly turned up, then ES keeps going to or through 61.50 area at least and possibly 58-57 or more if the range is convincingly broken

08 May 2018 12:07 pm
staying under 66 at best and taking out 63 and especially 61.50 to go to the 58 or lower

08 May 2018 12:09 pm
bounce from 62.25 and just over 61.50 key area but still can be broken if this bounce holds under 66

08 May 2018 12:12 pm
needs to take out 66 and accelerate or at least hold otherwise a rejection needs another push lower to or through 62-61.58 area

08 May 2018 12:19 pm
the way this is acting with quick drop and pop it will need to hold on another drop otherwise this bottom attempt good head towards 58.54 lower eventually

08 May 2018 12:21 pm
you should be short something under 65.50 bounce high for a very tight stop and did you are short from higher up than should be more than just over 69.50. A decent bounce above 70 needed at least or else going towards 58.50-57.50 or quite a bit lower

08 May 2018 12:25 pm
I would go on break after we see how this does at 61.75 as that level is just above the 61.50 key area and needs to hold to avoid a potential move back to or through the low and 58.50-57.50, take out 65.50 to put a dent in those chances for now anyho

08 May 2018 12:26 pm
I am going to need to take some break between now and around 1:20. Out update ASAP when free to do so and one is necessary. bounces that stall still good shorts

08 May 2018 12:29 pm
a chance this could be on the way to break 61.75-67.50 and if only another feeble bounce then headed to or through 58 area. Still needs to get over 66 or bearish

08 May 2018 12:51 pm
another feeble bounce that failed under 66 and now it's the 64.50-65 area that needs taken out/held to attempt a turn around and set up going down to 58 or lower this afternoon

08 May 2018 12:53 pm
it's going to be taking out this low area at 62-61 and if it holds under 61.50-62 pressure stays on down to 58 at least with a shot at air pocket drop to or through 54.50-53.50 after that

08 May 2018 12:58 pm
57.25 reached and quickly bid back up so key area at 57.50-57. The 54.50-53.50 area is next holding under 61 area on a bounce but could and up being a low for a while

08 May 2018 12:59 pm
in any case, a good target on shorts as I had been saying that we should go to that area numerous times. Bounces still should be sold, even if they decent run up over 61.50

08 May 2018 01:07 pm
should be a good low in place even if it is revisited, it seems as if there are some good buyers below waiting, or shorts antsy to lock-in profits. But if broken through 54 should be tested/broken

08 May 2018 01:25 pm
bounces continue being sold from the 73-73.50 area and unless broken back above and held then the door stays open for one more push lower to test or break the lows. Needs to take out that resistance, or take out 60.50-60 area and get momentum

08 May 2018 01:30 pm
the market once to breakout on the upside and should have only small pullbacks and turned up if that's the case. Right now a pullback from 65.50 needs to hold 64-63 area and get turned up to keep a good uptrend

08 May 2018 01:36 pm
the ES had the 65.50-66 first support area as pivotal in the early going and it's also 60 EMA on 5 minute chart and should be good resistance that needs taken out and held or else another pullback likely starts from that area

08 May 2018 01:38 pm
taking out 63 and holding and then the 60.50-60 area is a major area that needs held to avoid breaking the low and probably going to 54 area if that happens. Must have good bounce off of 63 or failed

08 May 2018 01:41 pm
if this doesn't turn up soon then we could see this start to head down towards the 61 area again and breaking through would be an open door to the low area or more

08 May 2018 01:43 pm
up turn from 62.75 will keep this in a good uptrend now, will need to continue holding 63-62.50 area at worst

08 May 2018 01:45 pm
with no follow-through on the upside, don't be surprised if this gets turned back down again take out that support area and then would need to hold instead of another quick turn back up if it does break under 63-62.50

08 May 2018 01:46 pm
take out 65.50-66 on this move and it could get moving back above 69.50-70 area and possibly make a move back up towards its high

08 May 2018 01:48 pm
there was a good reversal off of 57.25 and 1 tick under that zone, quick first run up but not very impressive until 1:25 PM sprint higher. Now a pullback should hold above 63 and turn up for rally to continue and not reverse

08 May 2018 01:54 pm
but ES has run out of of steam after touching 66 and quickly backing away and stalling out can lead to a breakdown so needs to keep pushing higher and take out 66 pretty soon or else take another spill dropping through 63 area down to or through 60.

08 May 2018 01:56 pm
bounces should continue to fail now at or under the 65.50-66 area at the very highest. A stall and breakdown started around 63.50-64 and should be held under to keep pressure on for further breakdown – 64 area

08 May 2018 01:59 pm
should continue to or through 60 on this move and if it goes through by much then back to the 58-57 area and possibly going to or through 54.50-53.50 not far below the low today, would be just a minor area if downside has moment some when reached

08 May 2018 02:05 pm
pop-ups not sticking and the only thing keeping this from a breakdown at the moment is the ES holding the 2660 area. Another filled bounce and break under 60 goes to/through 57.25 low area. Potential for double bottom, but more likely would be broken

08 May 2018 02:06 pm
should go back down to that area again the way the market is currently acting and especially breaking the bottom of this range under 60.50 area

08 May 2018 02:10 pm
bearish under 63 area now down to test or break the low area

08 May 2018 02:16 pm
pop up on Pres. Trump announcement on Iran nuclear deal giving the market a bit of a boost and should be able to hold the 58-57 zone on another pullback if reached as that double bottom could be important now

08 May 2018 02:18 pm
a high at a major resistance yesterday and so far a pullback low with a double bottom at a support area. But not out of trouble unless a break and hold over 63.50 just at a minimum

08 May 2018 02:21 pm
on more push to the 58-57 area made a higher low and quickly turned up again from 58.50 – however – stays bearish unless 63.50 broken and 63-62.50 holds on a dip after

08 May 2018 02:24 pm
broke out and should be fine now holding over 63-62 area if it gets back down there. Next resistance is around the 69.50 area above

08 May 2018 02:28 pm
made it up to the 69.50 level and is backing away from that updated resistance but should turned back up from around the 66-65 area at the very worst if this good uptrend is going to continue and not the late day breakdown of some sort

08 May 2018 02:29 pm
large failure however if 63 area holds then it can avoid going back down to test the double bottom area or break it

08 May 2018 02:34 pm
that 69.50 area should be a key area to clear and hold if the market is going to get turned around, otherwise it still and sell the bounces mode mostly, bounces not sticking headed to or through 58-57 – 54-53 possibly if a breakdown through 58-57 i

08 May 2018 02:37 pm
almost every time the ES has pulled back to 61, and especially 59.50, the ES has popped back up but on this move down it should test were break that area and would need to come up quickly another time

08 May 2018 02:38 pm
just look for shorting opportunities on bounces. Has to take out 69.50 and hold, probably won't do that even if it gets up there again. A pullback would come soon after. Could run up a bit from another higher low, must be with gusto else break 58-57

08 May 2018 02:41 pm
54.50-53.50 and then after that going to 48 area. If still no turn then 40.50-39.50 could be major on this move

08 May 2018 02:44 pm
52.25 low kind of in no man's land but a logical number, but should still be sold on another bounce attempt as long as it stops at/ under 57-58 new resistance now

08 May 2018 02:50 pm
move higher from new low at 52.25 made it to 58 so far and taking out 58.50 and holding 57 area and turning up after can lead to more upside, instead of being sold here and not getting turned up right away

08 May 2018 02:52 pm
we have had a number of these quick pop-ups and all have failed so far today, however at the moment it looks like as long as 57 holds on a pullback there's no more damage done today and run up could continue

08 May 2018 03:00 pm
another bounce unable to stick, however if the ES can hold and turned up from 58-57.58 area then could be one more little run up instead of heading back to the low area again

08 May 2018 03:05 pm
appears a low could be in as long as the ES doesn't go back under 58-57. Could be a little run up get going if 64 broken by some shorts covering running it up. A failure without that happening soon

08 May 2018 03:12 pm
can continue grinding higher from here now as long as the ES holds 62-61.50 and no lower. Could make it to 69.50 area again. A double top or potential breakout

08 May 2018 03:17 pm
a 2:42 low and reversal right 2 minutes after the 2:20-2:40 timeframe. Will be important the rest of today and tomorrow unless broken. Pullback needs to bounce again from 63 or higher

08 May 2018 03:17 pm
should not go back under 63-62 area if this is going to stay in a good strong uptrend at the end of the day

08 May 2018 03:20 pm
for now and stays bullish as long as 63.50-63 is not broken below and then not turned right back up again. Going over 67 up to or through 69.54 upside to continue its grind higher

08 May 2018 03:26 pm
backing away from 57.50 prior support/new resistance just stopped the move so far and needs a break under 64-63 with some momentum and stay under 64.50 area after in order to roll over and possibly get momentum

08 May 2018 03:30 pm
it looks like in the last 30 minutes that ES needs to hold the 63.50 area and not go under and hold 64.50 and turn down on a bounce. could get momentum if that happens in the last 30 minutes. Otherwise

08 May 2018 03:32 pm
otherwise if 63.50 area is held and the ES keeps on pushing higher through 57.50 then it could try for the 69.50 area again but failing to get through 69-70 end of day and dropping under 63.50 is all that derail this from finishing on an up note

08 May 2018 03:33 pm
should continue pushing a higher as long as 63.50 is not broken below the market avoids late day drop. Have a great rest of your day! Read the update tonight and then meet you here in the morning. Take care!
 

INTRADAY LOG FOR MONDAY - MAY 7, 2018

07 May 2018 09:17 am
Good morning! If you happen to be short partial position via put options or inverse ETF's you can still trade around that with the ES. But as long as no break and hold over 73 it should go back to fill the gap at 60.50 at least

07 May 2018 09:24 am
I'm going to keep a stop kind of tight at 74.25 for now. That is a bit over the 73 resistance and about 8 points above entry area, should not be broken. If stopped out I'll likely be reentering at some point higher or lower, especially if internals a

07 May 2018 09:26 am
I'll update about 5-10 minutes after the open. Gap up open would need to take out 73 area and stick to avoid poll but to or through 69.50

07 May 2018 09:32 am
has to come down and break 66 area, around entry on swing trade in order to turn down and that get bought on another pullback instead

07 May 2018 09:35 am
72-73 major area to clear and hold after that. At the moment and uptrend unless 70.50 broken

07 May 2018 09:37 am
should top out in the first 20-40 minutes latest unless there's going to be a buying frenzy today, and not reversal today

07 May 2018 09:39 am
a break back under 73-72 could leave a top in place for a bit, otherwise a shot at 77-78 area before a reaction of some sort

07 May 2018 09:42 am
a move under 73-72 needed to put a dent in the uptrend now or 77.50-78.50 or higher

07 May 2018 09:45 am
just reached resistance and would need to come back down through 73 in order to dent the uptrend

07 May 2018 09:46 am
should be sold in this area around 78 and stay under 80.50 Highest for a high up here

07 May 2018 09:48 am
can come down to the 76 area soon and would need to pop right back up if reached

07 May 2018 09:53 am
bouncing from 76.25 needs to make a new high and hold 76 in order to a void a turn and not reach 80 or higher. Major area 83-84.50 top of recent range

07 May 2018 09:54 am
it should be sold under 80.50 as a high and this token higher high was sold so must hold 76.50 or could be breaking down

07 May 2018 09:56 am
if there IS a run up to 80.50 then needs to hold 78 area or above to get to or through the 83-84.50 top of recent range

07 May 2018 09:58 am
79.50 high so far holding just under 80 and breaking under 76 now should mean a high in place with a bounce after that should fail. Support under 76 is that 74-73 and pivotal area

07 May 2018 10:02 am
stalling out/backing away from just under 80 and unless broken pullback underway.

07 May 2018 10:02 am
good spot for a short with a tight stop

07 May 2018 10:03 am
shouldn't go over 80 or else it might have a shot at the high end of the range if that happens. Also, needs to come down under 77-76 and not pop right back up. But like to see drop with some momentum or else it's not going to roll over

07 May 2018 10:05 am
backing away from a little under that 80 level but needs to take out 77-76 especially with momentum

07 May 2018 10:06 am
should not go over 80 if short up here. Going to put 1/2 of the position again as there should be a rollover through 76 and go to or through 74

07 May 2018 10:07 am
and if it goes much further without a bounce then it should be more than just a pullback before another good run up. Otherwise it keeps the door opened for another attempt at 80

07 May 2018 10:10 am
bounce from 76 new key support now was reached and this bounce needs to hold under 78.50 and turned down if going to or through 74-72 lower pullback low under 76

07 May 2018 10:13 am
78.50 resistance was broken by 3 ticks but not held and not able to get over 80 so should be a high in place and continue down to or through 74 and not snap right back up

07 May 2018 10:16 am
short positions should have a stop at 79.50 now as a high should be in place and continue to move lower to or through 73-72 prior resistance, should be pivotal area with bigger breakdown if not able to hold

07 May 2018 10:20 am
with this currently holding just over 74 it needs to go back up over 77-77.50 area and not turn right back down, otherwise good be heading a bit lower yet to at least 73-72

07 May 2018 10:22 am
72.50 reached and a bounce that needs to take out at least 77-77.50 and not turn right back down

07 May 2018 10:28 am
bounce from 72.50 needs to take out 76-76.50 now otherwise keep coming back down to 72 or lower which would make holding under 74 keeping pressure on

07 May 2018 10:31 am
72.50 updated support should be an important low area now, and should still be under some pressure unless 77 is taken out and could come back down to or through 74.50 which is a pivotal area right now and needs broken then held to reverse down

07 May 2018 10:33 am
still going to be a short under 77 as that should not be broken unless the ES is going to make another try for its high or lower

07 May 2018 10:34 am
pullback should be a move down to around 73.50-72.50 and if not a turn then around the 70-69 low that needs to hold

07 May 2018 10:36 am
with the Dow also going sideways, breaking 24,438 could start breakdown there also with the ES heading towards the lows now

07 May 2018 10:39 am
reentered the partial short on swing trade a couple points under the high hand will add on a bounce most likely. Should have highs in place, and now the 73 area resistance that would need to be broken and held and 76 as major pivotal area above

07 May 2018 10:44 am
making a low for a better bounce back above 72.50 and possibly try for the 74 area which should be important area if it gets that far

07 May 2018 10:47 am
if the drop off of the 76 bounce high is meaningful then the bounce should not go past 73-74 on this bounce, otherwise another pullback should be bought if not sold to hard from higher up

07 May 2018 10:51 am
if there's going to be another pullback from under the 76 area then needs to be the 74.25 bounce high so far and take out 72 in order to test the low or maybe a bit higher if not good momentum

07 May 2018 10:55 am
72.50 area needs held in order to keep this in choppy move off the low and possibly testing or breaking 76 area, which was a low and then highs and pivotal area to day so far

07 May 2018 11:04 am
could be a high made at 75.75 especially if there is a break under 75-74 that is not turned right back up, but otherwise appears in bounce mode

07 May 2018 11:08 am
a reentry on the short side at 78 area and looking at a move back towards 70 to retest the low will look to either to cover or possibly add on a bounce attempt depending on the look of things. 79.50 stop now. Bounce from 72.25 again and 72 area pivot

07 May 2018 11:10 am
quick moves both ways, still key resistance at 76 to clear. And 72 to break in this range/and stick

07 May 2018 11:14 am
need to hold 76-75.50 area, otherwise testing or breaking 74 and not a quick strong upturn with momentum, then could keep going to 72 area again or more

07 May 2018 11:16 am
next resistance just above at 77.50-78.50. Stopping and turning their would be a double top and could start decent pullback

07 May 2018 11:20 am
back to 78 area where we had a chance to short and ES keeps bouncing back and will likely take out 78 and go for the high area if this doesn't break back under 76 again soon – still 80 pivotal area

07 May 2018 11:27 am
76 held again and the Dow has made a choppy move back up close to its high also, and a chance for a double top however needs to turned down from 24,779 or lower and break 24,442-440 on the Dow cash to reverse and 76 again on the ES

07 May 2018 11:30 am
keeps having quick drops from bounce highs at the 77.50-78.50 zone, and 76 twice previously but all have been able to hold and turned back up, so needs to do it again if 76 reached

07 May 2018 11:33 am
or things could change and keep going to or through 72 area. Still a chance for a double top also. Keep an eye on the Dow cash, as they are in sync but Dow with different numbers to make tops/pullback lows

07 May 2018 11:35 am
that should be about it on the upside with a double top on the Dow cash and 3 highs at the 77.50-78 resistance headed towards 74 and then 72 or lower if 74 broken by much

07 May 2018 11:37 am
and/or the Dow cash comes down to 24,408 area. So far another bounce coming from 74.50 so a chance to go back up to resistance a fourth time although likely falls shy this time up

07 May 2018 11:43 am
as long as the ES holds 74 it will have a chance at one more run up to test or break the bounce high so far at 78 resistance, but needs to get up there pretty soon or else things could begin to change if the Dow turns down from this area

07 May 2018 11:46 am
if this keeps coming down through 74 then the 72 area just below is a strong and pivotal area that gave bounces twice this morning. Needs to be broken through also at this is going to be a reversal and possible reversal day back towards yesterday's c

07 May 2018 11:50 am
bounce from 74 needs but holding under 76 on the bounce keeping some pressure on but still needs to go under 72 without turning right back up and continue to or through 78 area in order to attempt reversing bigger

07 May 2018 11:53 am
so far grind lower with lower highs and lower lows so needs to get back over 75.25 at least and especially 76 again and stay over that level if it's taken out one more time for further upside before pullback

07 May 2018 12:01 pm
ES has been in this range since breaking 72 and holding around 10:20 and now a chance to break through although may not stick unless it has momentum on breakout

07 May 2018 12:04 pm
77.50 bounce high so far and unless there is a break back under 75 area soon then a shot at taking out the highs.

07 May 2018 12:11 pm
backing away from 77.50 but holding 76 would keep this out of trouble for now with a shot at the highs still if that holds

07 May 2018 12:17 pm
another quick pullback that is going to be quickly turned up from 76 again most likely, so need to go through 78.50 and stick or under 76 and stick soon

07 May 2018 12:19 pm
I am going to be away until around 1:15 and will update ASAP when free and one is necessary. Use another little pullback to scratch out of this reentry attempt on the short side,

07 May 2018 12:21 pm
if 76 broken and held things might change, but really would need to take out 73-72. I'll be back in just a bit. If a higher high then could be going for the major area around 82.50 up to 84.50

07 May 2018 12:34 pm
although the market has been going sideways, right now the internals would be very close to putting indicators at overbought status, and the VIX is reversing up from 14.77 and up for the day which is bearish especially closing higher for the day. and

07 May 2018 12:42 pm
ES is going to need to break out over the 83-84.50 area, and stay up there if it gets that far, otherwise a bounce to the top of the range getting overbought is a good short and reentering 1/2 position to start again at some point if continuous holdi

07 May 2018 12:47 pm
although this keeps on bouncing back, it cannot take out resistance and hold either so I am going to get back into a partial short position to start again, a bounce to 77.50-78 should fail again or just be held under if going lower from here. at 75.5

07 May 2018 12:48 pm
last quick pullback had a decent bounce but this one not going to do the same as it could cut through 73-72 and possibly get some momentum

07 May 2018 12:55 pm
double top at resistance with internal gauges overbought using INTRADAY to see where they would be if they closed that strong – along with reversal up from 14.77 on the VIX all comes together for a good set up.

07 May 2018 12:55 pm
But indicators are end of the day, so I am "front running" them after a number of times of just missing extremes by one day lately

07 May 2018 12:57 pm
I will update again around 1:20 unless needed. A move under 73-72 not quickly turned up and a move under 24,401-24,398 on the Dow cash that sticks could have it begin to break down also.

07 May 2018 01:03 pm
still in this trading range and the bottom side is 73.50-72.50 and around 24,400 on the Dow that needs to be broken through and then only gets a feeble bounce afterwards in order to get a breakdown to possibly test or break the 69-68 area

07 May 2018 01:03 pm
okay, back in about 20 minutes or so.

07 May 2018 01:12 pm
just broke down to 72.25 so far and has prior resistance along with and up sloping 60 EMA on the 5 minute chart so a key area to take out and then hold at/under 73-73.50 area after that and rejected or sold if going to keep pushing lower. 76 STILL pi

07 May 2018 01:19 pm
took a stop out on short -8 points on 1/2 position, reentered and exited + ~1 point on first reentry. Suggested reentering short again around 12:47pm and 75.50-75.00 reached shortly after and bounce high at 76.25. Holding the 72.50 level again keeps

07 May 2018 01:23 pm
market is hanging in there holding 72.50-72 and keeping this from a pullback instead of this range we have been and since before 11 AM. 76 not far above and pivotal and if broken with only small pullback afterwards then a shot at the 77.50-78.50 resi

07 May 2018 01:30 pm
75.50 is the middle of the range and 76 pivotal area and about to go through both and if so will need to hold around 74 otherwise back down to around 72.50 or else possibly breaking down

07 May 2018 01:32 pm
if there is going to be a pullback then it should start from that level pop-up that just came down from 76.25 and not go up there again or may not break 75-74 and dent current bounce

07 May 2018 01:35 pm
77 and then the 78.50 resistance are the important areas that need to be taken out on this move up if going to a higher high for the day but not sticking unless just a tiny pullback afterwards is turned up

07 May 2018 01:53 pm
with this not pulling back much from 77.50, it's going to be okay it looks like as long as 76 is able to hold again

07 May 2018 01:56 pm
top of the range being sold and going under 76 needed along with what should be a break lower on the Dow cash if this is going to have a pullback and set of this tiny one and then another run up instead. 24,424 needs held on the Dow cash

07 May 2018 02:04 pm
we could be starting a run up that makes it back to the 78.50 level or higher, but if reached then would need to continue to hold over 77-76.50 area at worst and turn up for a chance for a breakout to hold

07 May 2018 02:05 pm
a failure up here around 78.50 again however could see the ES have one of those quick moves back down.

07 May 2018 02:15 pm
the Dow was pulling back while the ES went sideways and now a rebound on the Dow is going to help move the ES up to its high for a higher high on this move and should be in a bounce mode until either stalling or a rejection from a little bit higher u

07 May 2018 02:16 pm
should and must continue holding around 76.50-76.00 on any kind of pullback from up here. It has been a pivotal area most of today and it's bullish unless broken right now

07 May 2018 02:18 pm
should test 79.50-80.50 if this is a small pullback holding at 78 and turning up. Otherwise a double top attempt

07 May 2018 02:20 pm
that happened quickly, with 79.50 reached so far and will be in be strong uptrend holding over 78-77.50 area now.

07 May 2018 02:28 pm
stall that 79.50 and quick pullback to 77.50 old resistance/new support and will need to keep holding there to keep this from a breakdown of some sort and pushing higher, especially if the Dow can get going towards its high also

07 May 2018 02:37 pm
we have an entry around 75.50 for 1/2 of a swing trade again, not an ideal spot at the moment but the market is acting a bit top-heavy up here, still not able to get over 80 yet, and then it would need to be enough to stick if it does reach 82.50. wi

07 May 2018 02:41 pm
backing away from 81.50 and just under major area along with tops on the Dow cash 24,455-460 area. Should be under pressure if this breaks through 78-77 area, that should be new support that holds to keep this having pullbacks being bought, although

07 May 2018 02:44 pm
going to begin to get hit and continue to or through 73-72

07 May 2018 02:45 pm
should be a top in place and you should have reentered 1/2 of a position earlier and we will see near the close whether or not to add has this just had a failure again at/near the top of this current trading range

07 May 2018 02:47 pm
if there is going to be a bounce it's from this stall out on the way down and bouncing from the 60 EMA on 5 minute chart at 74.25 and should fail to clear 76.50-77.50 on a bounce but sold at or below that area if reached and sold back down to take ou

07 May 2018 02:51 pm
the Dow is coming down from its high quite a bit more than the rest of the market and can help lead the ES lower if it doesn't get turned around soon. Only a 12 point range so far, could expand taking out 74 and holding under 74.52 put more pressure

07 May 2018 02:57 pm
in case you want to treat this trade as a day trade then cover at 72.50 or better or about 3 points or keep a stop around 55.50 and look for lower prices around 68 for a target.

07 May 2018 03:01 pm
internals are still strong but not quite like they were around the top, in addition the VIX made a low under Friday day session low and turned up at 2:35 PM with prices reversing. Both could still have a ways to go on the downside, and probably must

07 May 2018 03:09 pm
some buyers coming in on this pullback, but a pretty wimpy bounce so far and can easily be broken holding under the 75-75.50 area and not going back over 76 and sticking end of the day

07 May 2018 03:12 pm
could be coming down as far as the 66.50-65.50 area if this goes right through 69 without reversing

07 May 2018 03:18 pm
if the ES reaches 64-63 Friday closeface area or lower at the end of the day here, either take profits or wait until tomorrow and see if there is a decent place to add. Wasn't expecting this last push to go this far

07 May 2018 03:19 pm
this is updating very slow for some reason, it stays on my window and won't go up for about a minute or two it seems. Anyhow, 65 or better a decent place to take profits if you cannot hold overnight. That would be about 10 points basis ES

07 May 2018 03:21 pm
otherwise, you might want to stay with a short position that lasts for a few days from this reversal from around the top of the range at 81.50 in the last 2 hours

07 May 2018 03:23 pm
63 Friday close was touched and bounced up from right away, and should hold under the 68 level to go under that and further towards the 58 area next

07 May 2018 03:29 pm
62.50 was reach and could be a late day low if this bounce is able to take out 68 level. If that doesn't happen it leaves the door open for another move down and that could be going to 58-57

07 May 2018 03:33 pm
with the ES bouncing back to just under the 68 new resistance, it should pullback only a small amount if it's going to have a better bounce and 70.50 area should be pivotal at the end of the day

07 May 2018 03:36 pm
the low area around 63-62.50 was not in last night's update because it was the Friday close and range. But it will be important support to hold to avoid a decent drop again. Could avoid more trouble if 68 broken and held after reaching 70.50 especial

07 May 2018 03:38 pm
have a great rest of your day. I will meet you here in the morning with a quick comment shortly before the open. Take care!

 

INTRADAY LOG FOR FRIDAY - MAY 4, 2018

04 May 2018 09:11 am
good morning. There is not much to like about the market since the buying mania and parabolic uptrend broke in January. There can be a bounce of some sort coming up from 22-21 but should not stick. Going under 22-21 and not reversing can be breaking

04 May 2018 09:19 am
when the market was in good shape a down open like this would get bid right back up on the open and not look back a majority of the time, no interest in buying yet, but selling bounces. Even if it does run up from 22-21 as it won't stick

04 May 2018 09:20 am
the VIX only up 1% at 16.07 with the ES down 12 points – no real fear

04 May 2018 09:24 am
short covering bounce possible if it doesn't go down through 18-17 and stick, on its way to 12-11 or lower if it is broken and held with momentum

04 May 2018 09:30 am
27-28 now major area to get through and hold this morning – today in order to avoid bigger breakdown and maybe try bouncing to or through 34

04 May 2018 09:32 am
might be it on the upside if it comes down through 17

04 May 2018 09:35 am
need to hold under 17 area and take out the 12 area in order to get a further breakdown

04 May 2018 09:38 am
12 area now a major support for the morning and can go towards 22 and if broken then 26 a major area if reached. Probably won't if it goes back under 18 and not turn right up

04 May 2018 09:40 am
bottom side of yesterday's range around 23-24, has to get over and hold

04 May 2018 09:44 am
with the reversal down holding over 18 there's a chance for another run up but should fail and another pullback if 24 area reached and not held –

04 May 2018 09:46 am
needs to hold 24 and take out 26 without reversing back down or else bounce high could be in for a bit

04 May 2018 09:48 am
24-23 needs held to keep pushing higher and avoid potential reversal from 26 area

04 May 2018 09:51 am
with this bouncing from the 13-12 zone and then holding over 18 it so far poked over 26 and that should be it for the first move up if 24 broken and heeld especially

04 May 2018 09:54 am
23.25 quickly turned up keeping in an uptrend right now and needs broken/held for a turn, or a reversal down from token higher high

04 May 2018 09:56 am
token higher high not able to stick, and need a turn up from 25 or else keep going to/through 23-22 area or more and top out up here for a while

04 May 2018 09:58 am
trying to hold support on 1 minute chart and as long as 24 holds it will avoid potential reversal and not go back to or through 28 area

04 May 2018 10:00 am
stalling out and starting to roll over, looking top-heavy holding under 27.50 area

04 May 2018 10:02 am
another poke just under 24 and should go back under and begin to break down soon if that top biz in place and not another little run up instead. Bearish holding under 27-28

04 May 2018 10:04 am
bounces haven't been sticking, but this one is trying to but would need to run up through 28 next and do it pretty soon and stay up there, not come right down

04 May 2018 10:06 am
topping out still under 28. Needs to take out 24 and stick in order to get downside going though.

04 May 2018 10:09 am
just buy dips over 24 has all of the support areas are holding, and a hold of 28-27 at worst now on a dip on the way to the 31.75 close from yesterday possibly. 30.75 bottom of closing range minimum here

04 May 2018 10:13 am
31.50 high so far and should be trying four yesterday's close just one tick above, and if not rejected then the 34.50 area tested or broken. Pullback support at 28-27 and could break if reached from up here

04 May 2018 10:15 am
33.50 high so far and 34.50-35 should be reached and maybe more otherwise a top of some sort by reversing back under 30 and especially 28

04 May 2018 10:18 am
backing away from 33.50 and needs to turn up soon to keep the strong move going from around 31 or else shouldn't drop down to a little bit under 30 at least and could test or break through 28 if that happens. Still trend up unless 31 broken/held soon

04 May 2018 10:21 am
ES has gone over 32 to 32.25-34.75 area 5 times now and backed away, so must take out 33.50 high and keep going through 35 or else will make another top up here and begin some pullback more than just a small amount breaking under 30-29

04 May 2018 10:27 am
with the ES sold holding 30.25 another push higher took out yesterday's high so not to have an inside day, has strong uptrend and needs to continue holding 33 now. 39.50-40.50 next key resistance

04 May 2018 10:30 am
38.50 high so far and just over middle of the week's range from Tuesday top to Thursday bottom, 39.50-40.50 should be hard to get through and hold on a first attempt, but if it keeps going then getting parabolic – should turned down at or under 39.

04 May 2018 10:34 am
very strong pushing through 40.50 easily however needs to hold 38-37 area now in order to keep the strong uptrend intact, holding around dynamic support on 1 minute chart

04 May 2018 10:38 am
should make another push higher from this tiny pullback to 39 if it's going to keep this strong upside going

04 May 2018 10:42 am
straight up to the 44.50-45.50 zone, this could end up being important for this move has a pullback that comes back down under the 41.50 area can mean a high in place for a bit,and especially breaking 39

04 May 2018 10:43 am
but otherwise, as long as held this will stay in a good uptrend and all of these dips bought until a bit more parabolic and then come back down some time around noon for a rest

04 May 2018 10:45 am
just needs to hold 43.50-43 area now to keep the very strong uptrend. If this gets more straight up, a pullback could and up being a quick one

04 May 2018 10:47 am
the VIX finally getting back down to the low 15's, just turned up from 15.30. It could go a bit further brought with it reversing prices should reverse also for a while

04 May 2018 10:51 am
it's hard to read the chart with its big spike down pre-open at 10.91 (and not regular trading hours so had to be futures induced if real). Anyhow 43.50 held so far and must continue or uptrend breaks. Slightly lower high turned down bearish also for

04 May 2018 10:55 am
bounce high stopped 2 ticks under 47.50 but held at 44.25 dynamic support on 1 minute chart still and turned up so uptrend intact as long as that 44-43.50 area is not broken by much

04 May 2018 11:08 am
could be a high being made up here around 48.50 area going sideways so still needs a break under the 44-43.50 area not turn right back up

04 May 2018 11:11 am
if this can go through 48-48.50 it could keep going up to around the 51.50-52.50 area next, so if this move holds there could be a bit of a sprint higher possible if it's like the others

04 May 2018 11:12 am
a somewhat feeble move to just a token higher high so far and if 46.50 is broken then downside might get going

04 May 2018 11:21 am
46-45 needs to keep holding and go through 48.50 and only have a small pullback if headed to the 51.50-52.50 area which is second major area to get over today or back away from as going parabolic again

04 May 2018 11:23 am
only about 1-2 points from resistance and if reached or broken would need to come back down under 49 and especially 47-46 area now

04 May 2018 11:25 am
51 was reached and is just one more pop up from that zone where there can be a reversal, if not topping out just under there already. Must hold 47.50-46.50 it appears

04 May 2018 11:29 am
trend up move should get to the 51.50-52.50 area on this move up otherwise another downturn and break under 49-48.50 could start some pullback. If held, uptrend still strong one more bounce at least

04 May 2018 11:35 am
reached the 52.50 level and should hold 50.50 area if pullback takes out 52 now. Biggest pullbacks today just 4.25, 4.00 and 3.25 points since coming off the bottom. So small dips still need to hold

04 May 2018 11:40 am
some resistance were breakdown occurred coming off of the 58.50 highs made just after the Fed on Wednesday. 54.50-55 was that area and backing away and needs to make a new high soon and stick, otherwise it's going to drop from right here and keep goi

04 May 2018 11:41 am
should be a top and a pullback needs to be just 3.50-4.50 points and turn up again or else bounces should be failing after that.

04 May 2018 11:45 am
51-50 area needs held otherwise breaking chart support along with pullback symmetry. so far 3.25 point pullback holding keeping upside symmetry and chart support which must hold after being sold around the highs again

04 May 2018 11:48 am
123 top in place and a break under 51-50 should mean a bigger pullback either right away or after a bounce as a top should be in after the 42+ point run up

04 May 2018 11:49 am
into around noon also. Should be pullback time. Look for another bounce to fail. Next support at four below 49 area if this breaks 50 and upside symmetry

04 May 2018 11:57 am
bounce off of 49 should make a lower high on this move also under 53.50 this time or else there could be another run up to the highs or higher instead of another pullback. At the moment would need to break 49, hold under 50, get downside momentum to

04 May 2018 12:01 pm
support at 51 and then 49. Should be okay holding those areas, but not if 49 is broken and 51 is held below to flip-flop and reverse up here. A move to 51-50 then is pivotal, need a turn up to avoid possible reversal and top in place

04 May 2018 12:05 pm
should continue to hold 53-52 now where the ES at its high to keep on going up and not have a pullback began

04 May 2018 12:06 pm
coming down through 54 could keep going to or through 52-51 and possibly more

04 May 2018 12:11 pm
not much of a pullback from the new high, but not much follow-through yet from up here. but as long as 53-52 not broken/held then should keep grinding higher another 30 minutes otherwise topping out around noon time up here and a pullback of some sor

04 May 2018 12:16 pm
small pullback holding just over 52.50 and this will stay bullish as long as 52.50-51.50 is not broken and held soon – which should happen without getting to the high on this move soon

04 May 2018 12:18 pm
I will be away until around 1:15 but will update if if necessary ASAP as soon as I am free to send one. The ES is topping out around noon as I mentioned earlier, if not then a higher high needs momentum and not a pop above and come down

04 May 2018 12:20 pm
same uptrend support needs to hold to avoid potential reversal around 52-51 and especially breaking down under 49 again. That should not happen the rest of the day or else things could be changing

04 May 2018 12:45 pm
that ES just turned down from 57.50, and if there is going to be anything that stops this move or give it a decent pullback, it should come from the 57.50-58.50 area. That could be either soon or from a token higher high.

04 May 2018 12:47 pm
57.50 bounce high and a stall out and reversal bar holding under 56.50 and could be a move to the 52.50-52 area and keep upside symmetry from breaking by much along with a prior low

04 May 2018 12:57 pm
holding 54-53 area keeping it out of trouble. The internals are very strong, The VIX has come all the way down to 15.14! If it goes over 15.22 it should be a reversal. But anyhow, trend up move and as long as prices hold 54-52.50 area, breakdown goin

04 May 2018 01:11 pm
look for another pullback to around the 56-55.50 area for a quick trade on the long side as it should hold and make another test of the highs as long as 54.50-54 area holds

04 May 2018 01:15 pm
has to hold and turned up from 55-54 area at worst after not able to hold at these higher prices, and taking out that zone would mean bounces should keep failing. Another quick run up necessary to keep trend up move going

04 May 2018 01:27 pm
that ES just missed reaching 60.50 and will need to get bid back up after this small pullback gets turned up again at four above 57.50-57 at worst it looks at the moment

04 May 2018 01:29 pm
a move back down to or below 56 and especially 54 need immediate up turns to keep this going trend up and not failing. Scalps can be made on the short side if quick to enter a new high and exit after quick pullback. Might be a top on one of these

04 May 2018 01:32 pm
up turn from 56.50 keeping the uptrend from breaking right now and look for a token higher high to be sold again if there is another new high in this trend up move

04 May 2018 01:35 pm
so far the VIX made it down to 15.01, and if there is another run up it would go under that level and begin to get stretched too where it can start keeping the market down. Look for another pop-up to the sold into, but should still hold 56.50-55.50 a

04 May 2018 01:38 pm
must bouncing again, from 56-55 and not take out the 54 area otherwise top in place for a while and should be a short now for a further drop as bounces should fail anyway

04 May 2018 01:40 pm
need to hold here and make a run to a new high otherwise the move is topping out up here instead of keeping the trend of action at the moment

04 May 2018 01:45 pm
ES needs to hold this pullback low at 55.25 and stay over 54 if it's going to have a chance at another higher high for test of the high, which looks like it will be sold into and if so should come back to this area which is going to be a key area to

04 May 2018 01:46 pm
looks like new high coming eventually as long as it holds 57.50 area as support now

04 May 2018 01:50 pm
test of the high again and 57.50-57 needs to keep holding to keep this going up and not back down to or through 55 area

04 May 2018 01:50 pm
still could be going to or above the 60.50 area which is 75% of the way back up from yesterday's low

04 May 2018 01:56 pm
should only be a small pullback if and 80 before taking out 60.50 and going up to the 64-65 area which is a last major area to clear. If rejected, and the trend up move ends with a decent pullback, then the weekly chart might not look so good. But a

04 May 2018 01:58 pm
64-65 will probably be tested if this action continues. Right now it's the 59.50 new support

04 May 2018 02:03 pm
61.75 high so far is at a resistance area that I did not list however could be an important area to get over at 62. Anyhow pullback should not take out 59.50 area if reached by much without turning right back up, otherwise getting a bit top-heavy mos

04 May 2018 02:07 pm
still in a melt up phase reaching 64 resistance so far and the before-65 area probably will be taken out and if so should not come back to or through 61.50-61 blastoff area a few minutes ago

04 May 2018 02:11 pm
after turning down from 64-65 resistance taking out 61.50-60.50 area is needed to put a dent in this trend up move

04 May 2018 02:12 pm
64-65 should be sold if a pop up that looks like right now. A top possibly in place and less a decent bounce very soon

04 May 2018 02:14 pm
sold at the 64 area again and a good place with a tight stop for a pullback from up here

04 May 2018 02:16 pm
needs to take out 62.50-62 and stick very soon or else keep pushing higher at looks

04 May 2018 02:19 pm
need to take out 64-65 and not turn right back downor else there could be a turn began very soon around 2:20 for a little bit after.

04 May 2018 02:23 pm
another launch higher on the sideways move to 62.50 and up to the 65.50 level and coming down from my new high again. Needs to keep holding the 62.50 area or else possible reversal from up here

04 May 2018 02:26 pm
with the ES able to take out 64-65 it will likely stay in this melt up kind of mode possibly into the close as long as there is not a decent sized pullback to break this strong uptrend. Possibility of 72 area today if this 10 days strong

04 May 2018 02:32 pm
beginning to get parabolic again and needs to bounce from around 67 or else come back towards 65.50-64.50 and should hold that area if it's going to stay as a breakout, keep uptrend symmetry and not 2:30 PM reversal that six

04 May 2018 02:34 pm
high so far at 68.50 is a logical level for a top, but if another small pullback is bid back up through that level then around 71.50-72.50 area possible next – we will see as this could be a top for a bit

04 May 2018 02:38 pm
it's going to be hard to get back to the highs and stay up there if they do make it back to the highs, as this could be on its way to or through 62.50 area if not another decent bounce from 66-55.50

04 May 2018 02:40 pm
up turn from 65.25 updated support and will need to keep going to make a higher high on this move if not topping out in this time frame and going to keep trend up action going

04 May 2018 02:43 pm
just about to a new high and that should be sold and a pullback bought again afterwards

04 May 2018 02:48 pm
after turning up from the 2612.25 level this morning the pullbacks have been bought and the ones that we have had have not been more than 4.50 points except a 5 point pullback that turned up just before noon.

04 May 2018 02:49 pm
Another small pullback be bought, rally into the final minutes of stock trading if it continues. Pullback from new high should hold well over 55.25 prior swing low, or has broken down already.

04 May 2018 02:51 pm
may not bounce back so easily this time, but if there is another token higher high they keep making for good shorting opportunities for a quick scalp. Pullbacks that stall or reverse start another move to higher high, or something changing

04 May 2018 02:56 pm
I think that with the VIX going to 14.85 and turning up is probably going to be a low there, you could buy the VXXat 40.24 better, they could leave if the VIX makes another nice jump

04 May 2018 02:58 pm
this is topping out up here, huge move back up and time to give some back. Look to be short in some manner by buying some put options for inverse ETF for a move early next week back on the downside. Leave room to add in case necessary. One other thin

04 May 2018 03:03 pm
ES rallied 57+ points from the morning's low and the Dow 555 from its morning low, and likely come back up to 67-67.50 area were break down had some momentum and would need to clear and hold instead of reject if going to a higher high again and then

04 May 2018 03:07 pm
an important area just above the high around the 72 area, if it happens to get through 68, which looks very important to take out/hold or else be a top, and reach 71.50-72.50 then look for a turn from that area for a good reversal. May not be reached

04 May 2018 03:09 pm
only chance for a bounce is if buyers are interested in what looks to be minimal upside and decent downside risk. Should have trouble holding on a bounce now

04 May 2018 03:10 pm
he had a good chance to enter a short of some kind, and as long as this does not finished the day at its high then could be in decent shape to start Monday.

04 May 2018 03:16 pm
kind of a range at the end of the day and needs to hold 62.50 area at worst if another pullback otherwise could be a move going down into the close, rather than holding and attempting another run up into the last few minutes of stock trading which is

04 May 2018 03:18 pm
if the ES is able to hold 63-62.50 area than there's still a chance for one more run up and it could go to a new high area around the close if it gets legs and not fail at a new high again

04 May 2018 03:23 pm
at the moment the ES is trying to hold the 63.25-62.50 area and not have a late day breakdown, but if it cannot hurry up and go back up above 65.50 then chances are a breakdown occurs instead of yet another run up like that should happen the way toda

04 May 2018 03:26 pm
turning up again from new support and need to go over 65.50/stick and keep going up to the high or else a failure here could end up coming back to or through 63.25-62.50 support/possible breakdown area

04 May 2018 03:31 pm
in the last 30 minutes that ES is going to need to stay over 63 area if it's going to avoid a potential breakdown, and needs to get over 65.50 area and stick to keep going higher towards the highs although may not make it back up before being sold in

04 May 2018 03:32 pm
has to break and hold 65.50 on the upside, it's bearish and day unless 65.50 area is broken and then held above

04 May 2018 03:35 pm
65.50 poked over 4 times and with this holding and turning up from down at 54, need a run up from here quickly over 65.50 without turning down again and taking out 63

04 May 2018 03:37 pm
66 has been crossed or rejected 6 times now and holding under keeps pressure on late in the day and possible to break 63 area

04 May 2018 03:39 pm
and then day ES under pressure under the 66 area and a break/hold under 63-64 area if a bounce would keep it under pressure. It will need to hold the 60-59 area if there is a decent and of day drop

04 May 2018 03:41 pm
keep your short position over the weekend and I will see about adding to it or just stand with partial position – maybe not this time but was 1 they early on the last 2 trades but both worked out for nice gains.

04 May 2018 03:42 pm
have a great weekend! I'll update you on Sunday and then catching here on Monday morning. Take care!

04 May 2018 03:51 pm
minor support here at 58 area to hold or keep coming to/through 54.50 which is not impossible

04 May 2018 03:56 pm
I think a close under 58-57 would look very bearish coming into Monday. You should be short from 66, it was cross 5 times after giving the update. if you cannot hold overnight, take profits on this pullback down here at 57.54 better. Take care

 

INTRADAY LOG FOR THURSDAY - MAY 3, 2018

03 May 2018 09:14 am
good morning. Another gap down open, and probably will be tough going on the upside again today.

03 May 2018 09:18 am
an early run up will need to go up above 23.50-24.50 and especially 27-28 to attempt to get out of trouble for a bit

03 May 2018 09:27 am
another gap and just needs to go up to 27 to fill the gap and that area would be first resistance, around 27-28

03 May 2018 09:31 am
has to now take out 24 at least and be able to hold

03 May 2018 09:33 am
pullback that turns up from 18-17 area to have any chance of a run up and not continue towards the major area down around 12-11. It's Friday and could be a rough day

03 May 2018 09:35 am
some support at 16 and continuing through their close towards the 12-11

03 May 2018 09:44 am
need to get over at least 17-18 and stick foregoing down to or through 12-11

03 May 2018 09:47 am
bouncing off of 12.25 and will need to hold to avoid more trouble and has to get over 17-18 and then hold around 16 after

03 May 2018 09:49 am
a very important double bottom on the charts at the moment, bounce back to 18 so far and needs to turn up from 16 area back above 18 it looks like to get another run up attempt

03 May 2018 09:52 am
turned up from 16.25 and now as long as 17 holds a candle avoid another pullback and keep going towards 21-22 where there should be some pretty good resistance

03 May 2018 09:59 am
back to the open area where selling came in and going back over 24 needed to avoid some pullback and try for filling the gap for more at 27 area

03 May 2018 10:02 am
area around 17 needs to hold to get another run up attempt for bounce of some sort but could be coming back to the lows again also

03 May 2018 10:07 am
to headed back to test 16 and if that doesn't hold them the major support at the 12-11 low area and must hold to avoid bigger breakdown if 2608-07 also taken out

03 May 2018 10:10 am
15.25 quickly turned up and that needs to hold as a higher low and get over 18-19 and stick

03 May 2018 10:12 am
all bounces still being sold and would keep with the short side holding under 19 bounce resistance

03 May 2018 10:15 am
essays under pressure holding under 17 area right now

03 May 2018 10:18 am
20.50 low and double bottom for today and bigger picture but will break if this continues holding under the 16 area

03 May 2018 10:21 am
stay with shorts as it looks like there will be failed bounce attempts again today, with pressure on as long as holding under 12-13 at the most right now

03 May 2018 10:22 am
going to or through the 08-07 or keep going towards 2603-2601 area

03 May 2018 10:27 am
need to hold 2602.50-2601.50 or else 97-96 a major area if points to get a reversal

03 May 2018 10:29 am
2603 low could be it for a while or at least should not go under 2602.50-2601.50 or else could be a bigger breakdown to slice through 2597-96. It looks like it still needs to get over 2608 to avoid another push lower

03 May 2018 10:34 am
so has pressure on holding under 08 and about to make a lower low and if no quick rebound then likely going for the 97-96 area

03 May 2018 10:38 am
a collapse that has strong momentum and will bounce at some point but at the moment a bit of panic needed and still shorts on bounce attempts that stall or hold under 2598.50 right now

03 May 2018 10:42 am
stopped the downside momentum for a little bit anyways by spiking up from 94, but has to get back over 98.50-99.50 and stick instead of another pop-up failing

03 May 2018 10:46 am
with this holding just over 2602.50 area on another pullback should hold that level if a token lower low is made. Not of trouble unless another move over 2600 gets momentum

03 May 2018 10:50 am
a bounce should not get over 2604-2605 to keep downside symmetry which right now looks like it is reached only if there is a quick bounce and not go back to the lows first

03 May 2018 10:52 am
going to the lows with this breaking back under 97

03 May 2018 10:56 am
looks like we are going to continue seeing small bounces be sold into and keep going lower until reaching 92 and then likely 88-87

03 May 2018 10:56 am
just reached 92, and should keep pressure on to keep going towards 88--87 area

03 May 2018 10:57 am
although not necessarily straight line but holding under 95-95.58 area at most right now

03 May 2018 11:03 am
a good chance that we have a low in place for a lower a while anyways, unless this is a trend down day. has to get back over 2601-2602 and take out both symmetry, swing high, and prior support.

03 May 2018 11:14 am
so far 12.50 points bounce off of the low and a pullback should be starting but if 2698.50 holds then another bounce could occur and set up heading back towards the low area

03 May 2018 11:17 am
2601.50 held on a quick spike down, could go another few points at 2607.50-2608.50 but could be a top just made at 2605.50 to breakthrough now to get there

03 May 2018 11:20 am
going through 2601 would open the door going right to 98-97 and maybe lower

03 May 2018 11:23 am
98.75 held, but still not done going down at this only has a feeble bounce or just days under 2604 right now

03 May 2018 11:28 am
taking out 2600 and holding or taking out 2599 takes them to 97 and possibly 94 area again

03 May 2018 11:31 am
97 reached and would need to break through 2601.50 and stick, which it could break but likely not hold as bounces should still fail

03 May 2018 11:36 am
the VIX was up 15%, while there are more than 1200 net declining issues – my internal indicators should be at or near extremes. But price action has been poor, still and need change in tone

03 May 2018 11:42 am
about to have further breakdown with another failed bounce attempt being sold back down to 94.50 so far and headed to the low area if broken and not reversed with gusto

03 May 2018 11:48 am
the ES is getting choppy with two-sided action as bounces fail and then bid back up after coming down. ES holding the 94.50 keeps it at a bottoming position. Good double bottom on the Dow right now it appears

03 May 2018 11:51 am
low at the 92 area so far, and 2607.50-2608.50 is good strong resistance on this bounce that should be sold for a pullback of some sort

03 May 2018 11:52 am
to the 2603-2601.50 area and 2601.50 will need to hold four things could change

03 May 2018 11:54 am
barely a dip and it's the 2608.50 area that needs taken out and held on this move or pullback

03 May 2018 11:55 am
should be sold at or just under 27.50-28.50 area for a pullback although it may not be a huge one

03 May 2018 11:58 am
well not much pullback yet on this move up from the 94.50 updated support area, and with it reaching 2607.50-2608.50 area and needs to turned down soon or else going over 2609 could mean a bigger bounce

03 May 2018 12:00 pm
backing off from 2608, need to keep coming down under 2605.50 and then 2603.50 after that

03 May 2018 12:00 pm
or else uptrend stays in tact and at least a token higher high possible and maybe more

03 May 2018 12:05 pm
couldn't stick at 2609.25,and needs to bounce from above 2606-2605.50

03 May 2018 12:10 pm
getting top-heavy backing away from the 2610 area and should be pulling back now and especially taking out 2605.50 area and not turning right back up

03 May 2018 12:11 pm
but, another pop-up should fail that or around 2610 and hold under the 2611-12 prior support maximum for a decent pullback to begin

03 May 2018 12:13 pm
only poked under 2605.50 and turned up so far, but still should not get back up to or through the 2610 area and especially 2612 if there is another higher high which looks doubtful right now

03 May 2018 12:17 pm
bounces have been failing lately and it looks like another filled bounce just occurred at the 2609-2610 area and pullbacks have held 2605.50-2605 and will likely come back down a bit more or have a small pop-up before coming back down again

03 May 2018 12:24 pm
with the two rejections of 10.25 and 9.25, that area needs to be broken above, not rejected again if reached, could mean a move to or through 12-13 but probably not much higher. But should go lower if holding under 2606-2607 at the highest here can c

03 May 2018 12:26 pm
taking out 2602 and not turning right back up could mean a move back to or through 97-96. Would need to get back over 2606 at a minimum just to take a little pressure off

03 May 2018 12:27 pm
I will update again around 1:15 or a little after unless necessary and I'm not stuck unable to do so. Bounces should keep on failing

03 May 2018 12:47 pm
there was just another good run up on the ES after a 90 point drop from Tuesdays high and so far rallied back to 2618 and got back more than 25% of the loss. should keep on going up towards 22 area next, key area to clear up here or else possible d

03 May 2018 12:52 pm
this will need to pause and then take out 22 on the upside in the next 5 minutes or so

03 May 2018 12:54 pm
23.25 reached and this is turning into a pretty nice reversal and has 27 to get to if going to fill the gap on this move up

03 May 2018 12:57 pm
that will also be about 38% of the way back up from Tuesdays high. In any case, we get these good rallies and then they fizzle out and this will need to at least be strong enough to keep going to or through the 27 area and keep going to keep this a s

03 May 2018 12:59 pm
made it up there to 28 and I will be back in on that

03 May 2018 01:03 pm
well a quick comment with this bigger than normal pullback and from the 28 level, it looks like the 21.50 needs to continue holding but not take out the highs and come down through that and then test or break 2600 new key area

03 May 2018 01:09 pm
the VIX went all the way to 18.66 before reversing, was up >15% and turned down only to 16.55 so far, but should begin dropping fast on bounce attempts. Top in place for a while now

03 May 2018 01:30 pm
Double top should be important

03 May 2018 01:33 pm
voice software messed up but bullish over 2619-18 max

03 May 2018 01:37 pm
37-38 next big resist, 32-33 minor

03 May 2018 01:51 pm
So far another somewhat small pullback from 32.50 currently holding 26.50 and shouldn't go much lower or else could come back down towards 30 area

03 May 2018 01:55 pm
These stalls on the downside after pullbacks have been giving quick run ups and if the ES doesn't take out 32.50 pretty soon then another drop could happen instead. Market has a good bid underneath so far however

03 May 2018 01:56 pm
Also beware of a potential 123 top or double top on this bounce. A failure at a lower high and reversal should be the start of a

03 May 2018 01:59 pm
If one more pop-up then watched the 33.50-34.50 first resistance for a possible turn. If it goes right through then might be making a real good rally back headed towards 39 area

03 May 2018 01:59 pm
A short on pop-ups under the bounce high

03 May 2018 02:01 pm
Tops in place at 31.50-32.50 and should be pulling back for a while to test or break 32 first and 30 area under that

03 May 2018 02:05 pm
Bounce and still be failing now with a top in place. Tao rolling over some also. Need to to or through 22.50-21.50 or another bounce that likely fails under the 31-32 area

03 May 2018 02:08 pm
These kinds of sideways stalls in a good uptrend have led to run ups, and needs to be one here soon if there's going to be one but may not get to double top. If it does then could keep going up to around 37 area. There's a couple of levels up there

03 May 2018 02:11 pm
With pullback low at 25 needs to at least get over 30 and stick, or another pullback although maybe not back to 25, but if no signs of holding them could keep going towards 23-22

03 May 2018 02:14 pm
Failure at 29.50 and holding under 30 keeping pressure on and now will likely take out this last low and keep going towards 23-22 and maybe more. A move back over 30-31 needed to get another run up – must continue holding 25

03 May 2018 02:16 pm
Well I'm back again and needs to hold 25 again but should keep going towards 23-22 with buyers backing away

03 May 2018 02:18 pm
25 defended another time, but keeps making lower bounce highs and should and up breaking down soon holding under 29-29.50 at the highest and shouldn't even get there

03 May 2018 02:19 pm
Away about 10 minutes or so and will update ASAP as needed

03 May 2018 02:24 pm
Should be on its way to the 23-22 area or more. It must hold 19 area otherwise there could be a bigger breakdown

03 May 2018 02:32 pm
With this bouncing from 23.50 and just above 23-22 the averages are headed back towards their highs and have a shot at at least getting close if not breaking through as long as only a small pullback of 1-2 points maximum

03 May 2018 02:37 pm
Broke out over 32.50 high of the day and should keep going towards the 36.50-37.50 area next,

03 May 2018 02:41 pm
Took out the 34.50 resistance by just one text so far however if this pullback and hold over 31 area then a chance for a another run up but if broken by much then a deeper pullback before bouncing, possibly around 28 at worst

03 May 2018 02:44 pm
need to have the Dow get turned down to put pressure on the ES although at the moment it should be a good short under the resistance as it just turned down from their again

03 May 2018 02:47 pm
when the market gets extended on the upside it's when the run-ups that stall out set up good trades on the short side, if this is going to try taking out 34.50 resistance and holding it would need to turn up soon from 28.50-28 with gusto or else bigg

03 May 2018 02:49 pm
with this turning up quickly from 26.75 it could go a little bit further but should fail about half way up and not make it to the high at least on the first try

03 May 2018 02:53 pm
will need a good strong bounce from above 23.50 that can take out at least the 30 area and stick or else keep going down to or through 23.50 area one more time. Would need a good strong bounce, or else further breakdown likely

03 May 2018 02:55 pm
probably could help a trade on the long side, but might just get the rug pulled out from under the market and see this thing breakdown from this area

03 May 2018 02:55 pm
probably could help a trade on the long side, but might just get the rug pulled out from under the market and see this thing breakdown from this area

03 May 2018 02:56 pm
needs to take out 30 and stick, under pressure otherwise

03 May 2018 02:57 pm
any kind of bounce should fail, going to keep pushing to or through 23-22 area

03 May 2018 03:00 pm
so far has reached the 23-22 support/breakdown area, only a small bounce so far but has to go back up over 28-29 without coming right back down again to get something going on the upside

03 May 2018 03:01 pm
looks like the 23-22 area needs to be broken and not bounced off of, could go back down there if this doesn't keep going up above 30 area and stick to stay bullish for now

03 May 2018 03:03 pm
well, bounces should fail now that 29 was rejected and has to take out 29-30 area and hold 29 in order to try for the 34.50 initial resistance for a target area. Key area here

03 May 2018 03:07 pm
failed bounce again and should test or break through 23-22 on this move and if it does then a chance of finishing with a drop that to around the 19-18 area for a bit lower. Must get back over 30/hold soon to avoid that

03 May 2018 03:09 pm
going back from just under 30 however it could be a shallow pullback and then a try for the high area, if 30 is taken out and able to stick, breakdown if not

03 May 2018 03:10 pm
breakdown attempt on this move. It stays bearish hundred 30

03 May 2018 03:13 pm
earlier today there was a net 1200 declining stocks and right now it's around 400 net declining issues, so indicators may not get to across-the-board extremes. Probably keep the door open for another decent sized drop with the employment numbers tomo

03 May 2018 03:15 pm
3 times testing 23.50-23 and if that is taken out in the last 45 minutes without being turned right back up then another push lower would be underway. But has to clear 29-30 and stick and not reverse. A chance to run it up if they want

03 May 2018 03:18 pm
third time to the 29.50-30 area also, so holding under 30 is going to be bearish the rest of the day and needs to be cleared/held in order to avoid what could be a late day breakdown from up here. Short web-based stop over that top

03 May 2018 03:20 pm
though need to break down in the next 5-10 minutes maximum, or else a good chance of coming back up and taking out the 30 area

03 May 2018 03:22 pm
I'm going to need to cut out 10 minutes early today but still needs to take out 30 or risk a breakdown at the end of the day

03 May 2018 03:22 pm
just turned down, could be starting now and stay with this because a break of 23 could get the downside going

03 May 2018 03:24 pm
have a nice rest of your day. Update this evening and then meets you here in the morning. Take care!

 

INTRADAY LOG FOR WEDNESDAY - MAY 2, 2018

02 May 2018 09:06 am
there is a chance for the 52.50 area which is also around the 50% retracement from this week's top and bottom today

02 May 2018 09:19 am
Good morning. I don't think there will be any early move over 54-55 that would stick but and said an early drop and needs to hold around 40 or else could keep going towards 35 area

02 May 2018 09:21 am
NOTE: no lives sessions this week due to all of the appointments and things that would interrupt. I resume next week. Apologies for not saying something sooner

02 May 2018 09:25 am
this needs to hold 48.25-47.75 area where a double top was made before the pullback in then late run up, and take out 54.50 or else a lower low should mean topping out and could come back down to or through 40 area

02 May 2018 09:27 am
I will update a little bit after the open. I sell selling any run up as the VIX at 15.41 currently pre-open

02 May 2018 09:33 am
has to go over 50-51 area and hold

02 May 2018 09:39 am
that will stay in downtrend and continued lower as long as there isn't a move back over 47.50-48 area that holds

02 May 2018 09:42 am
has to keep coming through 44 and fail on a bounce after that again and would go to 42 or more and possibly keep going through the 40 area which would be bearish. 44 will the key to hold

02 May 2018 09:46 am
47.50-48.50 area needs taken out and hold or this already has topped out for a while and should take out the lows

02 May 2018 09:48 am
48 was sold and trying to bounce back but still needs to get over 47.50-48.50 and then hold and turned up after a tiny pullback to get a little run up of some sort and avoid possible break under the lows

02 May 2018 09:52 am
47.75 was reached and sold so that resistance is going to be an important in should breakdown to the lows at least a little bit and then tried bouncing back again. Turning range bound holding 44

02 May 2018 09:53 am
44 area holding on the pullbacks, after 2 pop-ups to the 47.50-48.50 area, and still needs to get over 48 and stick or could go back to or near the low again

02 May 2018 09:57 am
a third drop from 48 area resistance and should be a breakdown, just did and should go to around 42 and if broken then possibly take out 40

02 May 2018 09:58 am
stay with shorts as bounces should fail on this bounce under 48 and probably around 45.50-46.50

02 May 2018 10:01 am
pop up to the 44.75 level and backed away and should not get back over 45 and hold now to keep this heading down instead of a potential turnaround

02 May 2018 10:04 am
45 broken and held and should try to get through 48 for a fourth time, and another failure up here can lead to a quick drop

02 May 2018 10:08 am
being sold again just under 48 but should have a small pullback and go through that area as it's the fourth time up here in best chance of getting through 48

02 May 2018 10:09 am
not going to stick if 47 area broken

02 May 2018 10:10 am
only poking over 48 and not sticking so another pop-up should be sold also at least for a skilled trade and possibly move back to the lows.

02 May 2018 10:14 am
fast drop bid back up again from 44.75 and backed up to 48 again so it looks like as long as 46 holds on another pullback that the ES can breakout over 48 and stick

02 May 2018 10:19 am
holding around the 48 area right now and another pop-up should be a good short at least for a scalp trade. Pullback needs to hold at or above 47-46 at the very lowest or top probably again

02 May 2018 10:23 am
the VIX went to 15.24, might be on its way towards 15.10-14.90 if there was a good run up today from here, but not going to happen in likely topped out at 49.25 and should be sold on a bounce attempt as this could go under 46 which could cause a brea

02 May 2018 10:27 am
this bounce should stop around 47-48 –this could be going back to 43-42 where a bounce needs to start with some gusto to avoid another push lower and breakdown

02 May 2018 10:29 am
47.25 reached and rolling over again and taking out the 42.25 below could go to 40 area that must hold or else at least 38 or more under that

02 May 2018 10:32 am
only quick spike down to 42.50 just over low of the day, needs to keep bouncing over 47 and stick, not a pop up and reversal

02 May 2018 10:33 am
should be sold out 47 or lower on this bounce and go down to test or break the low area if 47 not broken by much if it goes up one more time instead of dropping soon

02 May 2018 10:36 am
really choppy and range bound and with some quick moves with and without follow-through, in any case has to get over 47 and stick for a shot at going back up to or just under the high.

02 May 2018 10:41 am
123 type of the top however a small pullback that holds around 46 and turn up quickly to avoid a move all the way to the lows if broken

02 May 2018 10:43 am
quick up turn from 45.50 keep since from a breakdown and still in attempt to move higher but should have a hard time holding on a pop up. Could begin to drop any time if 48.50 not seen soon

02 May 2018 10:44 am
gone too far and either goes to another higher low or else it's momentum and finally breaks down which is going to happen at some point it looks

02 May 2018 10:47 am
still range bound but this bounce should be sold again at or around the 47 area

02 May 2018 10:50 am
and if so another pullback needs to hold 44 otherwise 42.50 is next and if no sign of reversing good breakdown. Right now, has to get over 47.50 or else could start some pullback instead of an attempt of another run up

02 May 2018 10:52 am
need to hold 45 on this pullback in order to keep making higher lows and have a chance for one more bounce rather than finally breaking 42.50 low if this gets more momentum

02 May 2018 10:57 am
the VIX came down to 15.26 when the ES made its 10:17 top, but reversal should help keep the market down and the ES still there is a short on bounces as it should not break and hold over 27-28, should be sold at or under that zone and if scalping a p

02 May 2018 10:59 am
trading range and needs to hold under 47-48 but also break under the 44-43 area. A break of one zone or the other that can stick could give it a decent 3-4 point move but this should stay choppy going into the Fed decision today

02 May 2018 11:04 am
another rejection of the 47.50-48 area and should be making a new low soon

02 May 2018 11:08 am
shakeout quickly turned up at 44.25, needs to take out 47.75-48.25 area to attempt breakout higher, and under 44 and stick at a minimum more over. Should fail at tops and bid up at bottoms until breakout

02 May 2018 11:11 am
breaking out on the upside, should hold 46 area on any pullback now and keep going over the 49.50-50.50 area where there will probably be a pullback

02 May 2018 11:14 am
if 50.50 is broken and then could be knowing up to the 51.25 early day session high and just under 52.25 close yesterday, should see the ES back off under their

02 May 2018 11:18 am
will need a bounce off of 48-47 at the worst in order to get another run up of some sort

02 May 2018 11:23 am
the pullback held at 48.25 and turned up but not much gusto and needs to take out the high and not get turned right back down from a token higher high, otherwise can come back down under 47

02 May 2018 11:28 am
looks like buyers not wanting to come in over 50, and unless broken and held soon should begin to drop down through 48-47 area and then maybe a bounce or picks up some momentum

02 May 2018 11:32 am
ES has come down to 47.50 updated support so far but should end up going through their and if so would need to turn around and go back above 48.50-49.50 with some momentum to get upside going again

02 May 2018 11:37 am
a double top of sorts on the Dow, and the ES was only over 50 for 2-3 minutes. It should have trouble getting back there has it could be a top,if it did it would not stick. This bounce should fail at/below 47.50-48.50 in order to have a potential for

02 May 2018 11:41 am
one more pop up that gets rejected at or under 48.50 area a short on this move. To come back to or through 46 pullback low so far. Should see lower prices

02 May 2018 11:44 am
should be a breakdown to take out the lows on this move or at least a test

02 May 2018 11:48 am
rolled over from 47.50 updated resistance and just took out the low and at the 40.50-39.50 zone and needs to break that also to get hit fairly hard before the fed this afternoon. Bounce resistance now at 43.25-44.25 at the most

02 May 2018 11:51 am
the internals are barely positive and the VIX went all the way down to 15.08 and reversed with price at 11:25 and is running back up towards its 15.61 high of the day and a bit below what right now. In a decent bounce posted also should be sold with

02 May 2018 11:54 am
ES holding initial support so far but not much of a bounce attempt and unless this goes up over 44 and especially 46 with some momentum it could mean a low in place for a bit. Otherwise breaking support can go to 35-34 area next

02 May 2018 11:56 am
update in about 10 minutes as needed

02 May 2018 12:02 pm
a pop up to the 44 level sold and should be again if reached as this could come back down to test or break the 40.50-39.50 area from this bounce

02 May 2018 12:06 pm
a failure and another pullback should hold at or above 42.50-42 in order to avoid taking out 40.50-39.50 and possibly having a bigger breakdown not just pulling back to this support. A good low for a bit

02 May 2018 12:09 pm
a dip to 42.50 just turned back up but still needs to go over 44 and stick to keep bottom in place and attempt something on the upside

02 May 2018 12:11 pm
holding over 44 after punching above and 47.50 area needs to be broken on this move or else a pullback of some sort before another bounce attempt is what it looks like at the moment

02 May 2018 12:15 pm
there has been some quick moves both ways but mostly on the downside today in the only positive in this market today is the bounce from the initial support with less than 2 hours before Fed release

02 May 2018 12:17 pm
should stay two-sided, right now about in the middle of the range between the initial support and low of the day and the 50 area which the ES could not hold above

02 May 2018 12:18 pm
current uptrend support at 44.50 area that needs held or else a bounce after should fail has that could be a top

02 May 2018 12:23 pm
I'm going to be away until around 1:15-1:20 and will update if necessary ASAP. As long as not caught up on a telephone call. Still two-sided before the Fed, and should be topping for a scalp pullback around 47-47.50 or a little lower if this is going

02 May 2018 12:30 pm
should have trouble getting over 48 and holding with the VIX dropping to 15.01 at that high so far. The VIX could keep going down to around 13.50, but only if a good rally by holding over 50 and going to or through 54-55 but then fails. not likely sc

02 May 2018 12:50 pm
14.25 was reach after that ES stalled out at 27.50-28 new resistance and going back down to or through that area most likely holding under 47 area now

02 May 2018 12:59 pm
if there is further pullback from up here, look for it to bounce back from above the 40.50-39.50 initial support and low of the day and just be a pullback held and stalled out just over 44 and needs to break that area to get turned down, could make a

02 May 2018 01:01 pm
ran up to 47.50-48 area again and could be going to or through 50 but have trouble holding over 50 very long, unless it's going to run up to 54-55 resistance

02 May 2018 01:04 pm
market is going to stay two-sided most likely with the bounces sold and pullbacks bought at or above 45-44 at the worst. Should be sold at 49.50-50.54 a tiny bit higher around 52 maximum before reversing

02 May 2018 01:16 pm
a good run up again with the Dow making a new high and so far took out 50 but coming back down through that should mean a move to at least test things 48-47

02 May 2018 01:26 pm
so far 51.75 bounce high and closing in on the 54-55 zone which needs to be taken out or else a failure around the 52 area should begin soon. If 52 is not taken out and held then pulling back before the fed release before any other bounce attempt

02 May 2018 01:33 pm
30 minutes until the Fed release, and with a top and at 51.75 for now, this pullback needs to be small and bounce from 49-48 at worse and turn up but if so would need to go over 52 and hold 50 to avoid reversing and continuing up to /through 54.

02 May 2018 01:39 pm
bouncing from a pullback to 49, needs to go back over 51 and stick or else vulnerable for one more shakeouts on the downside before the 2 PM Fed release

02 May 2018 01:44 pm
getting top-heavy after rallying from the 40.25 initial support up around yesterday's close at 51.50. Unless this can go over 51.50 and hold 50, still vulnerable for more selling

02 May 2018 01:57 pm
sidewise into the Fed release and expect there to be a quick move up or down and then there could be a decent direction and don't be surprised if a quick sharp drop occurs

02 May 2018 02:00 pm
if there is a run up over 52 and it holds on a pullback then another push higher would likely happen although it likely will not hold very long higher up. shorting bounces probably better odds and setups, unless or until retests of good support turns

02 May 2018 02:01 pm
run up to 54.50 rejected and has to clear 55 with only a small pullback after in order to avoid decent pullback

02 May 2018 02:03 pm
so far able to hold around 52 on the pullback from 54-55 resistance, market goes almost straight up unless a break/hold back under 52

02 May 2018 02:07 pm
made it to 56 so far and now needs to hold around 54 if there is going to be another push higher otherwise back down to or around the 52.50-52 and bounce. Next resistance at the 58-59 area is important zone to get through

02 May 2018 02:10 pm
look for a pullback from 59 area and if that doesn't happen and is run up above also and sticks then a move towards 64-65 possible.

02 May 2018 02:14 pm
should be coming down from 58.50 high at resistance so far and should bounce from the 54 area or a little lower

02 May 2018 02:16 pm
or a little higher, not lower. If there is a break under the 54 area than a bounce that follows also should be sold. A nice stall at resistance. should be hard to get over 59 and hold

02 May 2018 02:22 pm
with this dropping from a stall at the 58.50 resistance back down under 55-54 it should keep going a little bit more but should bounce at least one more time. Would need to come down and take out the 48.50 area to get a reversal of this move. Needs t

02 May 2018 02:26 pm
headed towards the 48.50 area and going through could make this reverse the reversal and had back to around at least the 42 area and possibly new lows. Pop up should not go far, 54.50 area and then test or slightly break the high

02 May 2018 02:30 pm
a decent bounce and now starting what could be a decent pullback if it keeps going down under 63 and not reverse

02 May 2018 02:32 pm
53 not 93. and held so far turning up so a chance for a double top or new high on this move and then sold again. Most likely a lower high under resistance or else could break through

02 May 2018 02:36 pm
fed days are a bit tricky however these bounces are stalling once they have their run up, going sideways or choppy 43-5 minutes and rolling over and now another chance at the 48.50 area

02 May 2018 02:39 pm
with the high at resistance and a bounce high stopping under resistance, if this holds and gives another bounce it needs to go up over 52.75 to try getting upside going and needs to take out 56 on this move or risk one more drop which would have a be

02 May 2018 02:48 pm
I noted earlier that the VIX could drop down to the mid-14's and turn up which would be negative, then that happened with the VIX dropping all the way to 14.75, mega extreme short-term and even if support is not broken like it should be sown, a decen

02 May 2018 03:00 pm
stayed under resistance on bounce attempts and this one needs to go further and get back over the 52-53 area, that ES is still in trouble unless that zone is taken out and held

02 May 2018 03:03 pm
still is pushing lower and reached 46 so far and will need to hold the 44.50-44 area or else it could keep on coming down to or through the 40.25 low of the day at support

02 May 2018 03:08 pm
if there is going to be a pullback that takes out 45 then this move needs to at least get above 50 without getting turned right back down again. There is a chance for a last hour bounce but this needs to get moving and stick very soon or else rolled

02 May 2018 03:11 pm
if this does not get back over the 52-53 area there is a chance for another push lower, but would need to take out the 45-44 area in order to get a late day breakdown

02 May 2018 03:15 pm
rolling over from the 50.25 level and 49.50-50.50 is going to be a key to clear and hold or else keep on pushing lower and could keep going to the low area if things don't change

02 May 2018 03:21 pm
after the Fed release the ES rallied only 10 minutes and stalled out at the 58.50 resistance and since it has been a trend down kind of move and this could last until the ES goes down to or through the 40.50-39.50 initial support and low area for the

02 May 2018 03:23 pm
the VIX is still DOWN while the S&P and Dow are at their lows. It's making a good move up but not like earlier. Looking for this to keep going to the 35-34 area if no quick turnaround from 38 with gusto

02 May 2018 03:26 pm
the VIX is going to help keep the market down unless it explodes for some reason – which only could be some panic selling. Almost to the 35-34 area and needs to go over 40.50 and stick

02 May 2018 03:29 pm
in the last 30 minutes the ES needs to hold its low at 36.75 so far or go to 35-34 which would need to be as far as a pullback goes from here to avoid bigger pullback. Probably headed down there if this bounce cannot get back above 40.50 and hold ove

02 May 2018 03:33 pm
that action has been poor after turning down from the 58.50 resistance making lower highs and lower lows all the way down and must hold and have a good bounce from the 35-34 area at worst if this is going to avoid a bigger breakdown as this keeps goi

02 May 2018 03:34 pm
have a great rest of your day – and still should see any kind of bounce sold into either this afternoon or tomorrow morning. I'll update tonight and then meets you here in the morning. Take care!

02 May 2018 03:47 pm
as stated earlier all of these bounces should continue failing and this has a chance to last into the close if there is not a good bounce from the 31-30 major area

 

INTRADAY LOG FOR TUESDAY - MAY 1, 2018

01 May 2018 10:14 am
okay, my appointment took longer than expected and was hoping but in any case is looking like 38 needs to be taken out and then held afterwards or else keep going down. But a decent bounce should fail,

01 May 2018 10:19 am
small pullback from 38.50 but still has to get over 38-38.50 and hold to get something going back up for a better bounce

01 May 2018 10:21 am
need to hold 38 area and not come back down under 37-36

01 May 2018 10:25 am
not a very strong move but 37.50 held so far and reverses if that doesn't hold. Has to get over 41-42 in order to try getting a run up as that looks like strong resistance

01 May 2018 10:27 am
probably can sell another bounce if there is one that stops around 38.50-39 and turns down

01 May 2018 10:31 am
38.50 reached on a pop up and now should not go back over and hold over 38.50 otherwise could be trying to bounce and avoid going to the lows or lower

01 May 2018 10:38 am
could be a trading range if no breakdown son, needs to either breakdown under 34-35.50 here longer than just a minute or so

01 May 2018 10:44 am
34.50 needs broken and then hold under 37.75 after that is going to get a breakdown that's going to stick for a while, instead of only poking under 35.50 support and then turning right up again

01 May 2018 10:49 am
we are getting bounces from just under the 35 area but not sticking, so still a market to short bounces

01 May 2018 10:53 am
should be breakdown towards the 28-27 area if this goes under the lows with a bit of momentum

01 May 2018 10:54 am
straight down to them quickly it looks or at least down to 30

01 May 2018 10:57 am
31.50 low so far and as long as 35.50-36 is not broken through and held it still on its way to at least 30 and likely the 28-27 support for a target area to test or break

01 May 2018 11:05 am
28-27 reached and there would need to be a bounce take out 33.50-34.50 and stay above just to try getting into a neutral position. Downside still wide open and if a move down to the 23-22 area doesn't hold then it will begin to get uglier

01 May 2018 11:10 am
bounce attempt from 26.50 needs to first take out 31.50 and then have a small pullback at best if there is one and then go up over 35-36 prior key support area

01 May 2018 11:16 am
pullback from 30.75 will need to have a good bounce from 28-27 at worst and run up over 32 and then 35-36 and hold above 35 area

01 May 2018 11:26 am
should begin roll over from that 34.50 bounce high so far but probably not back under 30-29 if shorts are going to cover and hold this up

01 May 2018 11:35 am
holding 31.50 on a dip in a small uptrend off of what could be an important low 2 ticks under 28-27 support area, looks a low that should be held above as we get two-sided action today. If it does go back down there, then likely in some trouble. Righ

01 May 2018 11:39 am
with this popping right up from 31.50, keeps the market out of trouble and gives it a chance for a run that could go back over 35-36 – and if so will need to hold 34.50-34 area in order to keep going

01 May 2018 11:46 am
3 times failing at 34.50 while going sideways and 3 times holding 31.50. Probably breaks lower not hire the way the market has been acting

01 May 2018 11:49 am
for now as long as the ES holds under 34.50 it is headed back towards its low area again before a bounce. May not get all the way down there but at least come back to or through 30 area

01 May 2018 11:55 am
choppy in here but pop up rejected so still is pressure on the downside. if there happens to be a move down to around 28-27 that gets turned up especially with some gusto then it sets up a 123 bottom and possible decent bounce or bottom

01 May 2018 12:01 pm
needs to have a strong reversal up that takes out 29.50-30.50 without turning right back down from that area or else downtrend gets another push lower to break the lows

01 May 2018 12:03 pm
27.50 will need to hold as the bottom of 123 pattern and higher low on double bottom

01 May 2018 12:05 pm
popped up and left a tail on top with no follow-through buying yet and needs to keep holding over 29 and especially 27.50 at worst or it breaks down most likely

01 May 2018 12:14 pm
pullback holding 29.50 and unless broken low should be in place but still needs to take out 34.50 area and stick especially over 35-36 area, major area to clear and hold now and this area down here

01 May 2018 12:15 pm
I will be back around 1:10-1:15 but will update if necessary as soon as I am free to do so. Right now it still vulnerable under 33-34

01 May 2018 12:28 pm
ES has been going sideways but after the 123 bottom the ES held that the 28.50 level and should be good buyers on another pullback so probably look to trade from the long side for now, except wait to see about pulling back from 35-36 or not

01 May 2018 12:38 pm
this is where the ES needs to roll over from if it's going to keep its downtrend, or take out on the upside if going to to try breaking downtrend at this 34-35 area. Pivotal, if broken and holds a run up to 39-40 a possibility–

01 May 2018 01:01 pm
after turning down from 34 and just under 34.50 resistance the ES has been getting hit with a couple of little air pocket drops and headed to or through the low very soon and if so going through 27 a second time could mean a move to the 22.50-21.50 a

01 May 2018 01:14 pm
I have not had much of a break with the market making filled bounces and lower lows and that has been going on since yesterday and some of Monday. This bounce should stop at at 27-28 at the highest right here, or else could be low in for a bit

01 May 2018 01:17 pm
if this takes out the 22.60-21.50 zone on this move down, without any sign of a bounce, then things are getting worse for the Bulls and opens the door to go another 10+ points down to 2712 area

01 May 2018 01:34 pm
has to get over 27.50-28.50 on this move or could have another pullback but should hold the low area now – well defended and should be major today – should not be seen again to avoid potential picture breakdown

01 May 2018 01:37 pm
has to take out 2628 and then hold on a pullback, otherwise pullback from here should be a somewhat small one and not come close to the lows unless still very weak

01 May 2018 01:39 pm
the VIX has been in a choppy uptrend and reached 16.82 and reversed starting at 1:25 PM also, beware it should drop under 16.44-16.37 if they decent run up, not turn down at 29.50-30.50

01 May 2018 01:41 pm
in which case a pullback will need to hold around 26.50-26 area at worst and quickly turned up to keep uptrend off the low in decent shape

01 May 2018 01:46 pm
new uptrend and the up turn from 27 major area for today and should keep going to test or break 34-34.50 and then possibly 36.50 major above

01 May 2018 01:52 pm
strong rally off of the low, any kind of pullback should be bought now as a low should be in place and after a trend down day yesterday this two-sided action happening after a gap down open leaves still a decent amount above here, but not continuing

01 May 2018 02:00 pm
could be a high made around this 38.50 level but will need to drop back under 34.50-34 and not get turned up from that area to change the trend back to down the way it looks. if 38.50 broken just keep pushing higher into the 40s before any kind of pu

01 May 2018 02:04 pm
this is probably not going to happen on this move, but there is a gap to be filled above today's high at the 45.75 level – the Tuesday low and a gap around there from the way up. Important area around 45-46 should it be reached.

01 May 2018 02:12 pm
ES has been holding the 9 and/or 18 EMA on its 1 minute chart as a guide since it started holding around 1:35 after getting going off of the stall and double bottom, and needs to keep holding 39 right now to get a push a bit higher

01 May 2018 02:15 pm
if broken by much, then the ES gets choppy or pullback a bit and then likely rebound from that. Appears determined on going for 42-42.50 which needs push through with some gusto to avoid possible reversal after a bit longer stall

01 May 2018 02:17 pm
should be a bounce high in place and pulled back beginning taking going to 36.50-35.50 key area now up here

01 May 2018 02:22 pm
ES should push higher if it can hold 40-39 at the moment with a chance of pushing higher up towards 45 if they move through 42.50 and hold

01 May 2018 02:24 pm
whatever happens up here, need to hold 40-39 and not go back under that area by much if this is going to stay strong the rest of the afternoon and get to or through 45 area. There should be resistance first at 42.50

01 May 2018 02:24 pm
update and about 10 minutes or so. That should keep its uptrend going towards 45-46 if it's too fill the gap on the day session chart

01 May 2018 02:41 pm
looking like that the 41.50 area needs held or else come down to or through 39-38 area and maybe more

01 May 2018 02:42 pm
if there is a breakout on the upside and said then 45.75 area or higher should get a test on this move

01 May 2018 02:46 pm
so far the gap easily filled and the 47.20 50's from yesterday was just poked above and could pullback now a bit before another push higher towards 52 area possible

01 May 2018 02:49 pm
52.50 would be 50% retracement from the high on Monday and today's low already. The selloff was 58.50 points down to two days little double bottom after stalling on the downside

01 May 2018 02:52 pm
can get there if the ES takes out 48.50 area and able to stick. Right now a pullback needs to hold around the 44.58-43.50 area that worse in order to keep small pullbacks being bought at or near EMA on 1 minute chart – only poked under one time whi

01 May 2018 02:57 pm
should be a top up here now and major pullback if not a good bounce from around 43.50 area. A move under 41.50 would likely get things going downhill with bounces being sold to flip-flop this two-sided action back to the downside

01 May 2018 03:05 pm
last hour and selling started but needs to have follow-through take out the 43.50 area without getting turned right back up if there is going to be more pressure by breaking/holding under 41.50

01 May 2018 03:11 pm
it is going to be two-sided up here also, and 44-43 area holds to keep it out of trouble. Now it needs to push through 48-48.50 soon in order to make a move towards the 52-53 area if it's going to, instead of last hour drop or pullback

01 May 2018 03:12 pm
this doesn't have much to go on the upside right now and looks like a better short on any kind of pop-up as top's probably an already. Should breakdown soon

01 May 2018 03:13 pm
take out 44-43 and stay under 44 area after that pushes this lower. Would need an immediate turned up going above 45.75 not happening

01 May 2018 03:16 pm
everything has rolled over and now making a higher high doesn't look doable so a bounce ought to fail either on a Spike up or pop up that stalls if there is any kind of bounce, not just hold under 45.50-46.50 and should turned down from around their

01 May 2018 03:17 pm
should keep going to or through 41.50 area and that could be a pivotal area where either turned back up or possibly get downside momentum

01 May 2018 03:22 pm
the VIX came all the way back down to 15.66 at the top and reversed, and that short-term bearish up to. If that starts to drop towards the low 15's again, will have a great short when it reverses on 5 minute chart

01 May 2018 03:26 pm
the NQ has been very strong today, and it is having trouble up around its highs by being sold and should help the ES continued its move lower.it had a Spike down and came right back up, andshould go back down to or through that area and keep going lo

01 May 2018 03:27 pm
dynamics have changed at the moment in this two-sided day and 36-35 should be tested or broken if this keeps this pace

01 May 2018 03:31 pm
a quick drop to 39.50 quickly turned up also and needs to keep going and take out 44.50-45 area otherwise still could come back down from that area and if not then possible test of the high area but doubtful

01 May 2018 03:32 pm
43.25 bounce highs so far, immediately sold, but looks to be buyers waiting not too far below to go through

01 May 2018 03:34 pm
that is what to look for at the end of the day. 44 was just reached, so needs to be just a small pullback that holds or else a chance of going back towards 40 and set of up to or through 46-47

01 May 2018 03:35 pm
there's still likely another shakeout and then maybe a bounce after that

01 May 2018 03:38 pm
in any case, hope you have a great rest of your day. I'll meet you here tomorrow hopefully on time to update before the open. take care!

01 May 2018 03:55 pm
there is a chance for the 52.50 area which is also around the 50% retracement from this week's top and bottom today

 

INTRADAY LOG FOR MONDAY - APRIL 30, 2018

30 Apr 2018 09:15 am
Good morning. this will be a gap up open if the ES opens over 2676.25, and needs to hold around 75-74 or else could take out 71 and go negative on the day.

30 Apr 2018 09:25 am
the ES reached 79.25 overnight and pullback to 70 and then just coming down from a test of the high at 79 around 8:30, and would expect another run up to be sold into. But unless 78 reached then going lower

30 Apr 2018 09:32 am
77 early high and should hold 74.50 this going to stay out of trouble and not get sold on bounces

30 Apr 2018 09:33 am
until there is a stall or reversal not too far from here

30 Apr 2018 09:34 am
top in place at 78.50 and should go much higher if it's cleared

30 Apr 2018 09:37 am
only poke above 78.50, now it will need to come back down and break under 75 without turning right back up to get a bigger reversal bar of some sort

30 Apr 2018 09:40 am
right now it's going to need to hold 76.50 to keep uptrend from breaking

30 Apr 2018 09:43 am
with that break out there should be a hold over 77.50-77 area now or else a bounce after that should be sold into. If this takes out the 83-84 area and hold it could be a reversal or another squeeze on the upside. That is key

30 Apr 2018 09:49 am
20-40 minutes into trading with a gap up open should be a reversal of some sort now and would need to take out 83.50 in order to attempt a bigger breakout if it can stick. Could be a top otherwise

30 Apr 2018 09:52 am
breaking through 78.50 should mean follow-through down to/through 77 and bounces would likely fail with a top a bit under the 82.50-83.50 major area this morning especially

30 Apr 2018 09:56 am
78.25 was touched before turning up again, that area around 78.50-78 still needs to hold or else current uptrend could break. Buyers in charge but sellers eager to cover on a pop-up so move up shouldn't stick

30 Apr 2018 10:03 am
78 broken and would need to be able to go back over 80 and stick in order to have a shot at testing the high and if broken then 84 major today, not a failure if reached

30 Apr 2018 10:07 am
need to stay over 80-79.50 or else could be a better pullback instead of run up to test or break 82.50-83.50.

30 Apr 2018 10:11 am
123 top/double top at the moment taking out 79 should mean any other bounce should fail also and not make a strong run up that can stick

30 Apr 2018 10:12 am
holding around 79 so still a shot at taking out the highs and getting to 82.50-83.50 area on this move

30 Apr 2018 10:16 am
a top should be in and if not should go much higher and be able to hold

30 Apr 2018 10:21 am
if this holds under 77.50-78.50 at best than it should at least go back down to a low around 74 or more

30 Apr 2018 10:24 am
just missed 74 but we have a double top and reversal at 10:05 turning point timeframe which should be a high, still in 1/2 of a short position and will see how this doeson bounce.

30 Apr 2018 10:25 am
touching Fridays close and should bounce from this area although 75 area should be hard to get over and hold

30 Apr 2018 10:31 am
ES bouncing 1 tick above the Friday close to the opening low area and should back away if just a bounce and not going back up to or through 78-78.50 next

30 Apr 2018 10:34 am
75 area can be pivotal the way it is looking in the last broken the low should be safe for a while at least unless 78.50 is sold back down hard under that area

30 Apr 2018 10:39 am
with this holding under 78-78.50 it needs to keep moving down under 75 and get some momentum to get back to or through 71.50 close from Friday. Pivotal

30 Apr 2018 10:44 am
75 bid back up and 79 reached and sold but with 78 being broken it needs to come under 76 and make a lower bounce high after that if going to pullback from this area like it looks like it should

30 Apr 2018 10:46 am
as long as another pop-up holds under 79 that ES still will be top-heavy looking and pulling back to or through 75 began

30 Apr 2018 10:49 am
should be another run up attempt and fail at or under 79

30 Apr 2018 10:51 am
the 75 area still has been pivotal and held on the last two pullbacks and will need to be broken if this is going to have another leg down to or through the lows possible – need to hold under 79 for that to happen

30 Apr 2018 10:53 am
if the Dow rolls over the ES could get hit kind of hard. However it has the same kind of movement as the NQ so far today

30 Apr 2018 11:01 am
a higher low on this pullback and needs to hold 75 and take out 79.50 or else just a failed bounce and possibly a trading range, top of new one

30 Apr 2018 11:03 am
top of a trading range but if a pullback holds over 76 and 75 worst and turns up then a shot at 79.50 still

30 Apr 2018 11:09 am
trading range at the moment and either need to get above 78 area and stick or under 75 and stick to go to the bottom end

30 Apr 2018 11:16 am
another bounce unable to get over 78 after popping up from just over 75 and should come back down through 75 towards the lows the way this keeps acting

30 Apr 2018 11:17 am
to a higher low most likely above 73.50, or else could come back to or through 71.50 close from Friday

30 Apr 2018 11:19 am
it is winding kind of tight, with this tiny range inside of a so far 10 point tiny daily range which is less than Fridays relatively small 18.50 points range

30 Apr 2018 11:21 am
we had the VIX reverse this morning after it dropped down to 15.18 and turned up.coincided with top. it needs to reverse in close up to get sell signals from it though, and could if the ES takes out 73.50-72.50 area and keeps going to /through 71.50

30 Apr 2018 11:26 am
drop to the 73.50-72.50 zone and bouncing back as the ES made very low between the low of the day and the last swing low and needs to keep holding 73-72 or else bounces keep failing. Should keep failing, get bid up quickly with shorts covering or som

30 Apr 2018 11:28 am
it should not bounce back so easy on this fourth time down here

30 Apr 2018 11:29 am
should continue to hold under 76 now, keeping pressure on, or else had back up towards 78 area top of this range again

30 Apr 2018 11:33 am
should go to the 72-71.50 area or lower before another bounce

30 Apr 2018 11:35 am
with the Dow breaking a rising wedge, we could see the ES go through 71.50 area and if no turn around their then heading back to the 70 area. A hold under that would open the door to keep going to slice through 66

30 Apr 2018 11:36 am
anyhow, another pop-up of some sort should fail at or under 74-75 area right now for this to keep failing on bounces

30 Apr 2018 11:40 am
also if you are in this swing trade with me, with the VIX reversing after dropping all the way to 15.18 this morning, along with a double top just under 82.50-83.50 major area in trading range,a chance this could keep coming on down to or through 67-

30 Apr 2018 11:44 am
66.75 low so far and this bounce should be a feeble one and not get back over 69-70 and stay there very long in order to keep coming down and take out 66.50-66 initial support

30 Apr 2018 11:49 am
just poked through the 66 support and stays in a downtrend as long as 68-69 or lower area holds as bounce resistance

30 Apr 2018 11:50 am
down to the 63.50-62.50 area next. That should be an important support or else could continue towards the 58-57 zone which was last Thursday's low, and the low of this narrow range from last week anyhow

30 Apr 2018 11:56 am
with the ES at the 63.50-62.50 zone I'm going to lock can partial profit, leaving some short on just in case and looking to add again if there is a decent bounce and the VIX collapses again would help. Bounce resistance for this downtrend currently 6

30 Apr 2018 11:58 am
in any case I think that we have a pretty important high in place and should not go back up there again today or tomorrow unless something happens to get the upside going. Right now 71-72 major to get over on a bounce

30 Apr 2018 12:05 pm
probably going to head towards the 58-57 area or whether this is acting as long as it stays under downtrend resistance 65 and not break and hold over that area

30 Apr 2018 12:06 pm
if there is a decent bounce somehow back up towards 71-72 then would be a great area to reenter a short most likely, especially if a run up stalls and/or shows rejection. A longshot it gets there, should be breaking down pretty soon if it's going to

30 Apr 2018 12:09 pm
pressure is going to stay on going to 58-57 or lower holding under 65 area it appears. Could be bigger breakdown taking out 58-57 down to or through 51 area could happen

30 Apr 2018 12:16 pm
still in a trend down mode and on the lows getting very close to 58-57 and turned get there holding under 61

30 Apr 2018 12:17 pm
58 reached and key area down here as both the ES and NQ have been obeying the 9/18 EMA's on 1 minute chart most of the way down on both and unless broken/held trend down stays in force

30 Apr 2018 12:20 pm
I am going to be oh wait until around 1:15, however I will update when time permits. there should be an important top in place as some things came together just under the 82.50-83.50 major area for that to be a case

30 Apr 2018 12:39 pm
the ES came down to the middle of the 58-57 zone and turned up and just getting back to 63.50 made it to retrace 25% of this drop and all the way to 69.50 to make it halfway back – should not get that far, should stay at or under 65.60-66.50 but sh

30 Apr 2018 12:43 pm
getting some short covering from a little above 58-57 support, the bounce high at 61.75 and unless this gets over 63-63.50 and not turn right back down, it might be a chance for a few points for and then back down again

30 Apr 2018 12:46 pm
the move over 62 that turned down should mean a high up here on this bounce and if not then while more pop up reaches 63-63.50 at the most it looks and turns down from there. Just looking for good shorts and this poorly acting market

30 Apr 2018 12:49 pm
if this 58-57 zone is broken below on this move, it will open the door to go to the 52-51 area down below. Possibly just a quick Spike and down and run up, but hard to tell

30 Apr 2018 01:11 pm
the ES made a quick drop to 54.25 but then turned back up again and has been going sideways under the 62 prior bounce high and needs to get through 62-63 or else still could go back down to test or break that low area

30 Apr 2018 01:23 pm
kind of a double bottom in place and getting through 62-63 and holding could open the door to go towards 66-66.50 And likely fail around their if still week

30 Apr 2018 01:24 pm
should actually fail to clear 62-60 if still is ~week

30 Apr 2018 01:36 pm
the ES has been stalling out under 62 about long enough and should be able to push through the 62-63 area or tried to now as long as 60 holds.

30 Apr 2018 01:39 pm
double bottom should hold the rest of the day unless this turns down from 63 and takes out the 60 area. a chance for this to take out 62.50-63.50, and if broken without turning down like it should up here, then could go for 66-67 and then pullback

30 Apr 2018 01:44 pm
should get another push higher possibly towards 66-67 holding over 62.50-62 at worst now, if 62.50-62 is broken then it could be get something going on the downside even if not to its low or last low

30 Apr 2018 01:46 pm
this move here needs to keep going through 64.53 soon or else begin a pullback or reversal of some sort from this zone

30 Apr 2018 01:52 pm
if there is a rollover soon then there could be another 1-2 points higher over this 64.50 bounce high – but at the most if this is going to make a top on this bounce and turn down again

30 Apr 2018 01:53 pm
should continue holding over 62 in order to get another pop-up of some sort and not get anything going on the downside yet

30 Apr 2018 01:54 pm
well, it's just looking like it should be coming back down again as long at were holding under 63 especially

30 Apr 2018 01:58 pm
ES had a chance to break down a bit faster if it were no buyers waiting below but with the 60.75 level holding it would keep the market up for now, and a chance of going towards the 64.50 bounce high area and if reached and so sign of turning look fo

30 Apr 2018 02:01 pm
coming down faster and should test/break 58-57

30 Apr 2018 02:08 pm
should be on our way a bit further through the 58-57 zone and go back towards the 55 area or lower, especially if the Dow goes much lower also

30 Apr 2018 02:09 pm
we had a 10.25 point countertrend bounce and now back to the low on the ES and should go through down to 52-51 area where there needs to be a reversal or things began to get ugly

30 Apr 2018 02:17 pm
if you are still in a trade with me then partial profits were taken with the ES at 63-62 and hanging onto the rest of this small position as the 52-51 just tested can be broken through also

30 Apr 2018 02:18 pm
could end up being a sizable down day. Remember all of the small ranges? 29.50 point range seems very large today. If there is going to be a test or break of the 52-51 zone again this probably should hold under 58 prior support and set up going abov

30 Apr 2018 02:23 pm
this is looking like it will be based back up on another pullback now that it has made it back over 58, after bottoming so far 1 tick over the 52-51 major area down there. If it's going to have any chance of getting down there, needs to hold under 59

30 Apr 2018 02:30 pm
choppy and not very enthusiastic bounce, and a tail left on the chart up at the 60 area with no buyers at 59.58 should be a short at or under that area now to go back to the lows

30 Apr 2018 02:31 pm
52-51 area should be a key area to hold or break through in the last 90 minutes, staying bearish under 59.50-60 at the highest right now.

30 Apr 2018 02:37 pm
still some more tails on top of the candlesticks so far, and not far from 50-51 and if that is going to be reached then 55 needs taken out

30 Apr 2018 02:40 pm
same thing happened with the ES refusing to trade much above 58 and should be coming back down to a low at the 52-51 area and either a token higher low that's reversed up with some gusto or take out the low and keep this same action going and possibl

30 Apr 2018 02:46 pm
52.25 and then 53.25 are the last to lows and the Dow cash has a tiny double bottom it is trying to make. Unless that ES gets over 55.50 lows will likely break

30 Apr 2018 02:50 pm
tested 52.75 and quickly turned up, and needs to at least take out 56.50 and not be sold again with no buyers to take it up, otherwise get above 58 would change things

30 Apr 2018 02:52 pm
on the ES we have a double bottom just above what should be a major support at 52-51 – with the double bottom at 52.25-52.75 – for the moment. But, need to get buyers to come in over 58, which they are not warning to do at the moment

30 Apr 2018 02:54 pm
just not sure that I trust the long side yet, as this could rollover to the lows again around 3 PM or earlier. If it can't get over the areas were the tales were mad at 58-58.50

30 Apr 2018 02:56 pm
it looks like with the pullbacks able to hold the 52 area, it should be a late day double bottom as long as it's not taken out in the last hour of trading. Still could take it out if no bids over 58-59

30 Apr 2018 03:00 pm
well another failure as the ES popped up to 57.50 and immediately turned down with no buyers to push this higher, only some shorts covering and some bottom pickers trying to keep this from caving in a bit more

30 Apr 2018 03:04 pm
going to keep going to test or break the low around 52 on this move and could breakdown if no buyers to hold 52-51 as there has been down here

30 Apr 2018 03:07 pm
double bottom at 3:05 PM needs to hold and get above 57-58 prior support to get some buyers to come in at higher levels or shorts cover to push it higher. Could go back down another time otherwise as it has been trend down day

30 Apr 2018 03:14 pm
ES is turning up after making a double bottom at 52.25 and at the 52-51 major support down here, and should be a good low in place if this is able to get over 57.50 without turning right back down, otherwise still sideways/lower into the close

30 Apr 2018 03:18 pm
58 touched and though follow-through as very little buying up there above 57 that can hold. The prior 57-58 support has been acting like new resistance and needs cleared and held or else market in trouble

30 Apr 2018 03:22 pm
with this holding the 52-51 major area so far, but still in danger holding under 58-59 area, should be testing or breaking the low area on this move down at the end of the day. Likely a lower low the way the market has acted

30 Apr 2018 03:25 pm
with no buyers around today, this can fall on its own weight unless buyers stepped to the plate and no real sign of that. They would have a hard time getting back over 54-54.50 area now and sticking

30 Apr 2018 03:34 pm
this should be a late day short covering run up although it may not make it over 58 which is needed to get a bigger run up

30 Apr 2018 03:35 pm
might be the best bounce of the day, but follow-through over 57.50-58 has been difficult, so careful if there is no follow-through on this move up

30 Apr 2018 03:37 pm
have a good rest of your day. check out tonight's update, and I will meet you here tomorrow but it won't be until a little bit after the open due to early appointment. Take care!

 

INTRADAY LOG FOR FRIDAY - APRIL 27, 2018

27 Apr 2018 09:23 am
Good morning. the ES needs to get over 75.50 and not turn right back down to keep the late run up from yesterday going. should have a pullback to around 72 at least if that's not taken out and held early

27 Apr 2018 09:33 am
not really liking this swing trade taking half a position and looking to add to it, but need to see first 20-40 minutes and my have topped already if not a good run up from around 73

27 Apr 2018 09:35 am
should test or break 70 at least

27 Apr 2018 09:40 am
looks like a high should be in place unless there is a reversal that goes up through 76 with enough momentum to hold 73 on a dip and turn up again with some momentum. -right now needs to hold under 72 to keep pressure on

27 Apr 2018 09:42 am
holding 68.50 much longer should lead to a run up so you might want to just basically scratch out of your swing trade position and taking another look

27 Apr 2018 09:44 am
still could have a top in place if this comes back down to or through 72 and then a bounce holds under 74

27 Apr 2018 09:48 am
if a top is going to be in place then still needs to come down through 72 and hold under 74-74.50 area after that, holding over 72.50-72 keeps it in and uptrend at the moment

27 Apr 2018 09:49 am
likely a top, a short under the high

27 Apr 2018 09:52 am
quick rejection that 75.75 and just under 76.25 high came down to 69.52 test the low so far and should stay under 73 and keep going lower here

27 Apr 2018 09:53 am
should come down towards 66.50 area or just above and if not held then could continue to or through 64-63 next

27 Apr 2018 09:58 am
bounce off of 67 and just above 66.50 area and 60 EMA only a feeble bounce holding under 71 and that needs broken and held on a dip in order to attempt some sort of bounce. A move to 64.50-63 next

27 Apr 2018 10:02 am
still trying to hold 60 EMA around 68.50-68 and could bounce back to or through 70-71 and if much more than that is not sold then 74.50 area next

27 Apr 2018 10:05 am
need to hold 70 or else a bounce after should fail. 72-73 needs taken out and hold around 72 and turn back up to avoid another move back towards the low area

27 Apr 2018 10:09 am
should be a bounce high in place if 70 broken and not turn right back up again

27 Apr 2018 10:12 am
tops in place and any kind of bounce should be sold as this should be breaking it lows soon, could bounce again but not stick

27 Apr 2018 10:16 am
ES out of sync with the other averages and much stronger. will need to continue holding the low area at the 60 EMA but should be some selling on a move over 73

27 Apr 2018 10:19 am
selling came in just under 73, but if broken it still should go far without being sold and it could be a top if the lows at the 60 EMA are broken. should not take out 74.50-75.50 and stick if 73 is broken

27 Apr 2018 10:22 am
keep an eye on the Dow also. A move back over the 24,433 level needed to get it out of trouble, along with 73 and higher on the ES. Must continue holding 66.75 now on downside to avoid the breakdown

27 Apr 2018 10:25 am
has to bounce back from this slightly higher low but will be sold under 72-73. Unless that is broken and able to stick the market is in bearish position with bounces being sold into and lower prices coming

27 Apr 2018 10:27 am
64.50 and then the 63-62 area next. With the Dow breaking down further bounces should have a hard time holding now unless it bounces back above 24,308 now

27 Apr 2018 10:31 am
should hold under 65.50-66.50 area now. Would need to go over 68 and then hold 66 to attempt a turn around

27 Apr 2018 10:36 am
should be a bounce of some sort from around 61 but still needs to get over 65.50-66.50 or else only a feeble bounce and headed to the 58-57 area

27 Apr 2018 10:41 am
trying to hold and bounce from 60 and needs to take out 64 and especially 66 and then 68

27 Apr 2018 10:48 am
64 would need broken and able to keep going up to 66-66.50 area which should be resistance, if reached and not reversed then 68 key area to clear

27 Apr 2018 10:50 am
can't make a run up after touching 64.25 and immediately backing off from that resistance and should towards the low now if can't get over 64/stick

27 Apr 2018 10:52 am
if this is going to have a chance at 58-57 on this move then shouldn't go back over 64 and also have the Dow come back towards its low could help

27 Apr 2018 11:00 am
57.75 reached and decent rebound, still needs to go back over the 64 area in order to break downtrend and start better bounce. Need to get the Dow over 24,245 now for a chance for a low to be in on that average, going with the ES mostly

27 Apr 2018 11:06 am
64 easily taken out and reached halfway back up which is at the 67 level, should bounce from 64 area if going to try for 68 one more time, otherwise deeper pullback to 62-61.50 could be a higher low that must hold and turned up quickly

27 Apr 2018 11:14 am
88 resistance sold and now should come back down and take out 64-63 and not get turned right back up and make another high for this move if it's going to reverse direction again

27 Apr 2018 11:20 am
we had a 123 top after about 15 minutes and a drop to support and a bounce backing away from 68 resistance a second time and if it's going to breakdown it should happen on this move going through 64 and failing on a small bounce after that

27 Apr 2018 11:24 am
as long as 64 holds it's not going to break down but instead keep a choppy stairstep move higher going, especially taking out 88

27 Apr 2018 11:30 am
it's going to keep stairstep a higher now holding over 66 at worst and has what should be some good resistance around 70.50-71.50 area that it needs to get through or another pullback of some sort

27 Apr 2018 11:40 am
at 74 a second time and if unable to break could go back down under 67 and if so then another bounce should be sold. If 67 area holds instead then pressure on the upside and another push higher over 70 could get to 71.50-73 area. Hard to get through

27 Apr 2018 11:41 am
should be a short here with a stop just above 70 as this could be a pullback that takes out 67 at least and could go back towards 63 area or a tiny higher first

27 Apr 2018 11:46 am
back to the 64 area and should try some sort of bounce but a feeble one would stop around the 66.50-67.58 area and turn down again

27 Apr 2018 11:54 am
holding 64 but not able to get over 66 and if it holds under or just pokes above and turns down, can be the start of another pullback. A pop up that sticks over 66 could mean moving back towards highs but top-heavy now

27 Apr 2018 11:57 am
probably not going back to the low unless the Dow drops 50 points from here, and holding and turning up on the Dow and holding 63 area on the ES can keep it from further trouble, a shot at going to a lower high

27 Apr 2018 11:58 am
66 still needs broken and then just a small pullback like there has been on the way up from this pullback low or faster

27 Apr 2018 12:05 pm
should test or break through 70 and if a pullback it should hold 67-66 area and turn back up or else in a range and might under 64 but must not stick or would be some trouble

27 Apr 2018 12:09 pm
has to keep going on up through 70 and hold around 67-66 at worst and turn up or else would probably be a high in place for at least some more pullback

27 Apr 2018 12:12 pm
we had the VIX dropped down to 50 stretch at 15.71 this morning and run up to 16.77, just now dropping back to around the middle. If this can strengthen from here throughout the day, could be an extreme on the VIX and internal close to overbought on

27 Apr 2018 12:13 pm
under 68 at highest. Probably goes up to 69-70 if it goes back over 68-68.51 more time

27 Apr 2018 12:17 pm
if you scratched out of the partial swing trade that was on yesterday on the short side, there is a chance for one if things set up right this afternoon. May just end up being a day trade with the weekend ahead.

27 Apr 2018 12:17 pm
At the moment, range bound with bearish bias under 68.50 to 66 and then 63 area needs held as a pivotal area, could be moved towards the lows is broken

27 Apr 2018 12:20 pm
I am going to be away until around 1:15 with a few phone calls to make, so well update when possible if necessary. Right now with 68 almost reached should hold on another pullback and get there and possibly 70 if not rejected at 68 area

27 Apr 2018 01:00 pm
the ES broke out over the 70 level and is holding and should go back up to or through 75.50-76.50 if 70.50-70 holds at worst and get turned up again if it gets down

27 Apr 2018 01:21 pm
while the ES is a couple points from its high the Dow just made a token lower high by about 4 points and the NQ less than half way back, and 2 points under its 11:30 AM high. Should hold here and pushed through 76 on ES and 6680.50 on the NQ and 24,3

27 Apr 2018 01:22 pm
the VIX made it down to 15.63, and should go much lower. Just reversed up and could coincide with a top here also on the averages

27 Apr 2018 01:25 pm
this should be important bounce high now and stays bearish under 74 and should not get over 71.50-72.50 and hold or else bigger move underway by taking out the 70.50-69.50 area and not turning right back up

27 Apr 2018 01:25 pm
be short up here, these kind of moves with the VIX reversing during the day have made for good set up lately

27 Apr 2018 01:30 pm
the double top on the Dow and the double top on the NQ below mid range (just 57 points 50 points bounce after 133 points 50 points drop), and the ES 2.25 points under its top should make this bounce high a second top for the day and come down eventu

27 Apr 2018 01:31 pm
72 area should be hard to break above and hold now from down here. Should keep on going down and not get there at the moment with 68 area as target

27 Apr 2018 01:33 pm
needs to hold that 68 area if there is going to the a bounce of some sort and then come back down again

27 Apr 2018 01:34 pm
would it be a buyer there but just a spot where a turn could come it short down here, and then a feeble bounce should fail again if there is one like there should be normally

27 Apr 2018 01:37 pm
up turn from 68.50, and also about halfway back down from 63.50 low at 12:35 and has resistance around 72 where it should turned down from if it's going to stay weak off of the top

27 Apr 2018 01:41 pm
feeble bounce turned down at 71 and back to the 68.50 area, but with the tops all at an important areas along with the reversal up from 15.63 on the VIX, it should be important top. Will need to the taken out or else stays bullish the remainder of th

27 Apr 2018 01:51 pm
the ES has spent the whole day trading inside of the first 90 minute range and so far, and just reached 67.25 which is a small

27 Apr 2018 01:52 pm
bounce from 67.25 which is a small support for this move up from the last low at 63.50 around 12:35 and will need to at least get back over 71-72 in order to reverse this is

27 Apr 2018 02:04 pm
should continue moving lower as the VIX dropped back down to 15.67 and just 1 tick above its low, helping to keep the market down, and should continue if it is dropping even on feeble bounces

27 Apr 2018 02:07 pm
this could easily come back down to the 64-63 area. We haven't had any kind of huge days lately, except for the drop on Tuesday, and I don't know what would cause it to happen but if this want to it could let loose on the downside with no fear and st

27 Apr 2018 02:14 pm
turning around from pullback low at 66.50 and should keep going over 70 with some gusto to hold over 69 on a dip after to get this going on the upside and not fail around that 70 area or a tiny bit above

27 Apr 2018 02:18 pm
the way this chart is looking, a small pullback from 70 that holds at or only slightly below 69 and gets turned right back up should keep this in an uptrend for one more push higher

27 Apr 2018 02:20 pm
otherwise come back down to or through 67.50 area and need to hold or else bigger breakdown to or through 64-63

27 Apr 2018 02:29 pm
18.50 points down in the first 90 minutes to support, a 16.25 point rally and a 7.50 points pullback off of the test of the highs so far– double tops of some sort on all-and now looks like some pressure on holding under 70 right now

27 Apr 2018 02:32 pm
this drop off of 69.50 bounce high has buyers waiting just under at 68 and immediately bid back up. This should now be bullish holding over that level and could test or break a high areas. The short positions until next week

27 Apr 2018 02:34 pm
this move should fail under the 74 level so look for one more pop-up to around the 71 level and 72 maximum for a pullback of some sort to start, and then likely another run up after that

27 Apr 2018 02:46 pm
the pullback from 71.25 held at a higher low at 68.50 and now should take out 71.50 on this move up and another very small pullback to avoid a reversal of some sort late in the day.

27 Apr 2018 02:51 pm
could be another pop-up but if so it should be sold into at or below the 71 area and this should stay in a choppy downtrend now if that continues. Going to need to hold 68 or else bigger pullback probably has started

27 Apr 2018 02:55 pm
this market just cannot get going on the upside and after the double tops it's now making double tops at lower levels along with the VIX making lower lows and just turned up from another new low for the day down at 15.52. It's easily getting overly b

27 Apr 2018 02:58 pm
this bounce should be sold at 70-71 area, and if much higher it still should be reversed and especially if the VIX goes under 15.52 and turns up

27 Apr 2018 03:04 pm
turning up at 3 PM and probably is going to work its way back towards 74 area or thereabouts and see where the Dow gets to before there is further strength or a pullback of some sort.

27 Apr 2018 03:05 pm
72-71 area should hold and not much further if this is going to go through the 74 level and try for the 76.25 high of the day or more

27 Apr 2018 03:09 pm
this last 90 minute low at 67.75 will be important support now on any pullback the rest of today or on Monday early. Should not get back down to that area or else bounces will be failing. VIX low 15.25, should keep going under 15 before turning it th

27 Apr 2018 03:11 pm
with 70 holding so far there is a chance for another run up, but there's a good chance that a third top has been made, and if not and the 74 area broken it should not stay up there for very long

27 Apr 2018 03:20 pm
this could keep coming down and take out the 68-67 area and if so would have a chance to pick up some steam, but the way the market has been trading we will likely get a bounce again of some sort that fails. We did have another reversal on the VIX fr

27 Apr 2018 03:21 pm
going to stay short half of this position over the weekend the way this market is acting, and where the indicators would be if the market went back up again

27 Apr 2018 03:22 pm
could be a bad end of the day or a bad Monday depending upon how the market does around this low area down at 67.75 twice

27 Apr 2018 03:24 pm
should keep pushing lower, not much of a bounce if there is one gets sold into if going to have a potential breakdown today

27 Apr 2018 03:27 pm
a breakdown through and go to the 65 level and if not held continue through 63-62.50 in order to have a bigger breakdown and not any kind of late bounce that holds

27 Apr 2018 03:30 pm
there is a good ways for the VIX to move on the upside if this token lower low only has a small bounce that turns down at or under 69-70 keeps this bearish. Would need to break and hold over 2669.50-2670.50 and stick to end up in a neutral/bearish po

27 Apr 2018 03:32 pm
I think that is about it. This bounce needs to fail here and then come down and take out the 66.50-66 area to get a late day breakdown, otherwise stays in a range although getting back to the high and holding does not seem likely right now

27 Apr 2018 03:37 pm
there has been groups of buying coming in after decent pullback to give strong and fast run up that last 10-25 minutes. Last hour high at 73.25 is a major area that should not be broken/held today, last hour low so far at 66 needs to hold on pullback

27 Apr 2018 03:42 pm
have a great weekend! there may be some changes coming soon to the service and I will keep you updated here. anyhow, I'll update on Sunday and then meet you here on Monday morning. Just had another run up sold again. Have a great weekend!

 

INTRADAY LOG FOR THURSDAY - APRIL 26, 2018

26 Apr 2018 09:12 am
good morning. sell early up here to 45

26 Apr 2018 09:22 am
it should be hard to hold over 51.50-52.50 very long if reached – that is strong resistance

26 Apr 2018 09:23 am
and 45 high from yesterday is the first target to fill the gap on the day session chart

26 Apr 2018 09:29 am
there's some proof 51.50-52.50 should be hard to get through, just need to break under 50 and not get turned right back up with gusto and go through 52.50 and stick

26 Apr 2018 09:31 am
45 still possible for a level above, if cut right through then bigger pullback underway

26 Apr 2018 09:33 am
need to get over 50 and stick or else still going back down towards 45 or lower

26 Apr 2018 09:39 am
45.50 was reach and could be a low only if a move over 50 that can hold 49 after that

26 Apr 2018 09:42 am
still holding under 50 and if broken then still has to get over 51.50-52.50 so unless 50 area broken/held then market under pressure still and going under 45

26 Apr 2018 09:42 am
I will meet you online sometime around 10:20

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

26 Apr 2018 11:56 am
so far that ES has pulled back to the 52-51 area which should be a key support area that is broken and held could mean a bigger pullback could be under way if not immediately reversed with gusto

26 Apr 2018 11:58 am
if that ES is able to get back above 57-58, then it might be able to test the high area again otherwise that should set up a move back to test were break through 52-51 pivotal area now

26 Apr 2018 12:04 pm
this bounce will need to get over 59 or else a decent pullback of some sort could be starting. Maybe a small one or maybe a second top

26 Apr 2018 12:06 pm
if there is a run up that takes out 59-60, and not reverse by >1-2 points (in which case could keep going 3-5 or more) then a test or break of the high is possible

26 Apr 2018 12:07 pm
keep your eye on the Dow cash also, as it needs to get back above 24,274 in order to have more than just a bounce attempt and roll over again

26 Apr 2018 12:12 pm
just turned down from 58.75 and just under the 59 bounce resistance that should be a key and should begin to have a bigger pullback if that's the case and take out 56 without turning up to do so

26 Apr 2018 12:32 pm
the ES just made a double top and a break and hold under 60.50-60 can get this going down at least 2-3 more points

26 Apr 2018 12:49 pm
market has been bought on every pullback but just took out 59.50-59 and that should mean bounces fail and this could be a better pullback again towards 52 if there is some good momentum. 52-51 is major today on further pullback

26 Apr 2018 12:58 pm
all of the pullbacks have been bought today, and the last pullback refused to take out 57.50 and now it's the 58-57 prior resistance/new support for the current uptrend to continue and either test or break through the high. But should stay bullish ov

26 Apr 2018 01:00 pm
pullback from this third time testing 51.75 or higher will need to break through or else a chance of coming down to or through 58.50-57.50 key area another time, but should hold well above that to break out higher

26 Apr 2018 01:04 pm
64.50-65.50 resistance should be rejected at least on the first attempt or else going a bit parabolic

26 Apr 2018 01:06 pm
should see a pullback from 64.50 back down to test or break 62.50-61.50 and not much further before bouncing again or else a top in place at least for a while

26 Apr 2018 01:18 pm
the ES just made a strong move uup and reach the 68.50 resistance (not listed, only because 3 points over 65.50) but unless this comes back down and takes out 63.25-62.50 and holds under that area it avoids a deeper pullback and could try for 73-74 e

26 Apr 2018 01:18 pm
next update and about 10 minutes if needed

26 Apr 2018 01:25 pm
72-74 area next fifth this in keep grinding higher without breaking back under 64-63.50

26 Apr 2018 01:27 pm
this could be a trend up kind of day if this action continues and that ES doesn't get turned down from 72-74 area above, or just cost and come down under 63.50-62.50 prior highs area without turning right back up again

26 Apr 2018 01:30 pm
token higher high at 68.75 was sold but so far holding 66.50 which is broken could keep coming to the 63-62 area pretty fast before a bounce happens

26 Apr 2018 01:38 pm
another pullback from this double/triple top likely but needs to take out that level low at 66.25 without turning right back up another time

26 Apr 2018 01:38 pm
just happened and should be a short at or below those highs and should see this go to or through 63-62 area

26 Apr 2018 01:41 pm
has not taken out 66.25 yet, but with 3 rejections of the 69.50-69.75 area another one would probably go through, and this time could fall shy before turning down again

26 Apr 2018 01:44 pm
still holding 66.25 and turning up, but another pop up could just be a fake out move before turning down again as this should be a top after stalling out so long

26 Apr 2018 01:45 pm
if not and a breakout over this range sticks then it could go on up to the 72-74 area not all that far above the high

26 Apr 2018 01:49 pm
need to keep on going, no pullback from 68.75 again otherwise there is a chance it could be yet another top – but if there is barely a pullback and it holds over 66.60 then still in an uptrend and a trend higher move

26 Apr 2018 01:52 pm
another reversal and if going to be just a small one and gets turned back up then could continue on grinding higher towards 72-74 – not have further breakdown under 66.50 and cause this to have a move to or through at least 63.25-62.50

26 Apr 2018 01:54 pm
a head fake and reversal from 69 keeps this with limited upside and should have some sort of pullback bigger than what we have had so far taking out 66.50 area likely

26 Apr 2018 01:57 pm
well with only a small pullback again, another move up probably will likely keep going this time and maybe straight up to the 72-74 area

26 Apr 2018 02:07 pm
buyers have been eager to exit their long after the upside has been rejected or stalls, then come back in to buy again on somewhat small pullbacks, but right now the Dow cash has flattened out, needs to go up soon if or else ES will turn down and cou

26 Apr 2018 02:11 pm
yet another pullback bought at a higher low and is likely trying to make it to the 72-74 area before the day is over, as it has been a trend up move and could last until the last 10 minutes possibly

26 Apr 2018 02:14 pm
moves should have trouble holding new highs it looks, but a small pullback then should be bought, and right now 69 area needs held and especially 67-66 as a key afternoon support area/must hold

26 Apr 2018 02:18 pm
look to short any kind of bounce back up towards the 70 area as we have a top on the Dow that should be hard to break and that ES has been going with that and should come back down when this bounce is over around 69-70 area at most it looks. A short

26 Apr 2018 02:22 pm
should be a bounce high in place for a pullback unless the ES is going to either test its high or make a token higher high which is not likely at the moment

26 Apr 2018 02:26 pm
ES will need to break down under 67.50-67 area pretty soon if there is going to be another pullback of some sort that's a decent one leaving a top in place up here at 71 –

26 Apr 2018 02:32 pm
a quick run up from the 67.75 level keeping this from breaking down, so look for another pullback that holds that area to get bid back up again. If they don't, and is broken instead, then bounces after that should begin to fail

26 Apr 2018 02:34 pm
with this being mostly a trend up day until the reversal of at the 71 level gave a small shakeout, and the 72-74 area could still be reached however may not hold up there very long before pulling back to bed again

26 Apr 2018 02:39 pm
double top sold and probably will have a hard time getting through 71 and holding for very long, so doubtful that there is a push higher but it's so would be used to sell into

26 Apr 2018 02:41 pm
I know that we have the GDP tomorrow morning, and this has been a trend up kind of day, but it shouldn't take much to break this market down if it wants to. Right now it doesn't and could probably until final 10 minutes, as long as a reversal back do

26 Apr 2018 02:44 pm
74.75 high so far and only 3 ticks over the 74 resistance, but as long as a pullback holds 73 and down to 71 at worst there could still be one more run up and keep going for a while yet getting parabolic if it does

26 Apr 2018 02:49 pm
this run up started at 2:40, and important low now at the 68.50 that should hold the rest of the day. This is moving around in the 73-74 area and needs to go under 73 and hold after that in order to attempt a down turn from Bob here

26 Apr 2018 02:53 pm
5 minute stall and decent pullback after breakout from the top of that range and can keep coming down to around the 72 area where it will need to give a good bounce or else a top should be in place, at least for a while and even if they run up that s

26 Apr 2018 02:55 pm
another run up starting after another small pullback went sideways and stalled before turning up to get going and should have trouble getting over the high and holding if it can get up there. Good area for a short with a tight stop

26 Apr 2018 03:04 pm
still holding on small pullbacks and running back up again, and as long as the ES holds over 72-71 area the rest of the day it will avoid breaking the upside trend and a potential late day pullback to drop through 68-67. Both should hold it looks, an

26 Apr 2018 03:05 pm
new highs have been sold for a small pullback at least

26 Apr 2018 03:17 pm
need to hold around 62-61 or else a high could be in place and bounces fail from here on out. I am entering half of a short trade position to hold before tomorrow's GDP in the form of put options. July SPY 259 at 3.99 or better Can enter other half

26 Apr 2018 03:20 pm
also, today the VIX made it all the way back down to 16.30, and the VXX is trading at 43.36 and could by part of a position here, it should jump if the market drops much from here

26 Apr 2018 03:23 pm
don't know how this will work out but early in the month there was a 17 point again and last week 10 points on half and 12 on the other, going by the ES. Hope this doesn't jinx this one.

26 Apr 2018 03:25 pm
with just over 30 minutes to go in the trading day the ES is coming down to the 71 support and need to hold or else keep going towards 66.50 area next. A bounce from down here could lead to a late day rebound instead of breakdown, if more than a feeb

26 Apr 2018 03:28 pm
have a nice rest of your day. I will update this evening and then meet you here tomorrow morning hopefully in time to have a comment before the open. Take care!

 

INTRADAY LOG FOR WEDNESDAY - APRIL 25, 2018

25 Apr 2018 09:16 am
good morning. the futures are well off of their overnight lows, and looks like 28 should hold to stay in an uptrend.

25 Apr 2018 09:26 am
even though it's coming from lower levels at around the 25-23.50 support area, it can move up a bit more then be sold again as this is still under yesterday's close and currently waffling around the 30.50-30 area which could be pivotal, so needs to h

25 Apr 2018 09:28 am
update a little bit after the open and then I will meet you online in a little bit

25 Apr 2018 09:31 am
stalling and should come down towards 30 and maybe 28 if unable to take out 34 and then hold 33

25 Apr 2018 09:37 am
spiked under 28 and turned up but didn't stick and will need to get over the 34.50-35.25 closing range from yesterday to get turned back up and probably goes through 25-23.50 area

25 Apr 2018 09:38 am
bounces should fail and go down to 20 area or more before any kind of bounce attempts with a chance of decent move that likely fails

25 Apr 2018 09:40 am
will the to run up through 28 and only have a small pullback. If it holds under 25 it's going back to the 20 area

25 Apr 2018 09:42 am
probably continue toward 17-16 or more. Would need to get back over 24 prior support. I will meet you online around 10:20-10:25 roughly

25 Apr 2018 09:48 am
came right down to the 12-11 zone and turned up, and looks like to be out of trouble and put in a low at that ES needs to at least get back above the 23.50-24.50 support area. I'll update here again sometime around noon

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25 Apr 2018 11:59 am
after the early dropped to the 2711.25 support the ES ran up to make a token higher high just under yesterday's closing range and so far sold off about half way back and needs to hold 22.50 at worst and bounce with gusto back over 28-29, otherwise he

25 Apr 2018 12:01 pm
selling pressure should stay on as long as the ES hold under the 27.50 area right now as that area should not be taken out for this to have a good shot at going down to or through the 17-16 area

25 Apr 2018 12:04 pm
another lower low and going through 20 without turning right back up with gusto through 24-25 area, the move is still on its way to test or break 17-16 area

25 Apr 2018 12:08 pm
so far a bounce from 28 area and it could be a low if there is a bounce back above 24 area of that holds or else still 17-16 or lower in the cards on a break under 20 now

25 Apr 2018 12:10 pm
bounce from 20 unable to get close to 24 and unless that is taken out and held or still have 17-16 or lower on the way

25 Apr 2018 12:15 pm
20 holding and unless broken can bounce back a bit although not row far before coming back down again

25 Apr 2018 12:17 pm
I will be away until around 1:15 but will update if it's necessary and I am free at the time. Right now market okay as long as 20 area holds, although this bounce should also fail and give a pullback after either stalling for a quick little reversal

25 Apr 2018 12:53 pm
back up here again the ES reached 32 but so far not enough in the tank to get back to the 34-35 area where the ES would need to break or else another top made up here could be terminal for today, especially dropping to test the 20 area another time.

25 Apr 2018 12:59 pm
ES is going to need to continue holding around 25.25 area if it's going to have a decent shot at getting over 32-34 area which has been sold twice, the second is a lower high

25 Apr 2018 01:05 pm
just another failed bounce attempt if 34-35 is not taken out, and touch 37 at least and either keep going or pullback right away if it does get up there. Probably needs to turn up very soon from around 29 or higher

25 Apr 2018 01:13 pm
should be yet another failed bounce attempt at a slightly lower high again and a decent pullback to or through the 24.50 area

25 Apr 2018 01:18 pm
held 26-25 key support to hold,look to be shorting bounces at or a little under the 30 area and stops above 33.50-34.50 area as the ES should go back over that and be able to hold very long if it does, or else breaking and holding that area needed to

25 Apr 2018 01:31 pm
one with the ES bounce back from support at 25.25 the door is opened for a move back up towards the highs again so beware of selling 30 as this could go for around 33-35 maximum it looks or else trying to breakout higher

25 Apr 2018 01:34 pm
watch for this to pop up to or through 34-35 but will need to keep on going so it can hold over 34-33 maximum and turn up to attempt a breakout higher towards next resistance

25 Apr 2018 01:35 pm
this 36.75-38 area,good resistance should be sold into

25 Apr 2018 01:40 pm
if another pop-up, should be sold at the 36.50-38 area, and if no sign of a turn then up to around 41 and then should be key area now at the 43-44 area.but stalling and could come down to 33 and if that does not hold 31-30 must

25 Apr 2018 01:44 pm
token higher high sold at 37 and should be sold under 38 at the highest and come down to or through 33 and if that area broken than the 31-30 will need to in order to avoid breakdown

25 Apr 2018 01:47 pm
be short under the highs, even on a bounce attempt it's not going to stick and should be on its way to a low and feeble bounce attempt from around the 30-29 area and should be at the lowest or else downside could continue. Sell into this bounce, for

25 Apr 2018 01:54 pm
this pullback and install at the 30 area could lead to another run up of some sort but when it stops and stalls or shows rejection with a reversal bar on a short time frame like a 1 minute chart, it would set up for another turned back down. Watch 34

25 Apr 2018 01:58 pm
pullback from 34.75 bounce high would need to get going soon and at least come down through 33 area to attempt getting something going. Otherwise there is a chance that the high or slightly lower high on this move first and then a pullback

25 Apr 2018 02:01 pm
lower high should be sold here or else headed towards 37-38 where this could have a turn around or else keep going up to 41 and if not reversed maybe the 43-45 area above.

25 Apr 2018 02:03 pm
was sold immediately and now has to hold above 30 area or another pop-up will be sold into. We had a rejection with the quick reversal down after touching 36. Should be hard to get through and hold above very long the way it is acting. Room to go und

25 Apr 2018 02:05 pm
Leno rejection at 36 came back down to a higher low so far at 30.50, and needs to continue holding 30 otherwise there is going to be a move back towards the 25 area which would be important to hold this afternoon

25 Apr 2018 02:12 pm
with all bounces failing now continue shorting at or under 34-35 and not see it go over that 36 area as that should be held under for this to keep going down towards the 26-25 area and then a decent bounce possible. If it does NOT take out that resis

25 Apr 2018 02:15 pm
could keep coming to the 26-25 area but will need to have a good bounce from that area or above or else a further breakdown underway and 20 area would then be the key area to hold in order to avoid reversal of the bigger picture uptrend since the bot

25 Apr 2018 02:18 pm
now bouncing back again in this choppy two-sided action after making a new high and reversing, and this move was just rejected at 33 and unless 34 broken soon can come back to or through 29-28 or lower

25 Apr 2018 02:20 pm
need to be a way 10 minutes or so and will update after that. Bounces should still have trouble sticking, but another decent pullback should be bought unless something is changing

25 Apr 2018 02:30 pm
a pullback reached the 27 level just over 26.50-25.50 key area was just reversed with some gusto, keeping the market from breaking down however it doesn't keep this from being sold on these bounce attempts and held on pullbacks, if going to avoid bre

25 Apr 2018 02:33 pm
even tiny bounces all failing on the way down, will need to make a move over 32.50 in the next 5 minutes if it's going to attempt another run up and not reverse back down again. Although the bounce fails higher up

25 Apr 2018 02:35 pm
this move has some gusto and could test the high or a little lower before coming down again. However 27-26 becoming very important support this afternoon

25 Apr 2018 02:42 pm
backed away from 36 earlier at 2 PM, however this time there is a chance of getting to or through 37.25 high, if the pullback doesn't take out 32.50-32.00 it could make a higher high and not yet another lower high, but still likely have trouble stick

25 Apr 2018 02:44 pm
37.00 bounce high just under 37.25 prior high can set up a 123 top a second time, and can come back down to test or break the 33 level at least in likely lower

25 Apr 2018 02:48 pm
still should be pulling back to test or break 32.50-31.50 which needs to hold and give another push higher to keep this moving up and not reversing from its high area this afternoon

25 Apr 2018 02:49 pm
should be heading towards the 41 area for up to the 43-45 zone as long as this action continues, and the ES continues holding over 33

25 Apr 2018 02:50 pm
this zone around 36.75-37.75 should be an important area to clear and not turn right back down from. It likely will on the first test and come down 3-5 points before a bounce attempt. Much more than that and it could end up being a top

25 Apr 2018 02:59 pm
this is beginning to turn into a trend up kind of move and on its way to the 44.50 area, and if no sign of a turn then it wouldn't be too far away from the 50 area

25 Apr 2018 03:01 pm
pullbacks should hold 38-37 area in case this breakout does not stick. 44 has been reached, and if no pullback from 45 then has a chance going towards 50-51, but should be a pullback of some sort around that area

25 Apr 2018 03:05 pm
44.25 level is the high so far and right around resistance, however that ES has been choppy but basically in a trend up kind of move with some decent pullbacks along the way, and likely bounce back after some sort of pullback, even if it comes from h

25 Apr 2018 03:09 pm
pullback from the high at 44.25 resistance area should come down to test the 38-37 area if it can get under 40 and seven of just a poke down there and reversed right up

25 Apr 2018 03:11 pm
there is a chance that things change today in the last hour has a selloff and set of the rally like we have been getting about every day. But instead of being at lows we are at the high, so if the ES goes to 38-37, and then hold under 40 after that,

25 Apr 2018 03:17 pm
topping pattern and normally should be a reversal but needs to go under 40 if there is going to be a breakdown of any sort it appears. could short for a scalp, the move needs to happen pretty soon though

25 Apr 2018 03:18 pm
on the way down there to the 40 area or more

25 Apr 2018 03:20 pm
38-37 area next and a bigger move if broken through easily without a quick reversal

25 Apr 2018 03:22 pm
came down to the 38.25 level so far and just above a new support at 38-37 which needs taken out next if this bounce fails around 41.50-42

25 Apr 2018 03:24 pm
all of the pullbacks have been bought today, but bounces set up some good short opportunities to and now this bounce failed and should come down under 38-37 area and if so the 34.50-33.50 would be a major area under here

25 Apr 2018 03:27 pm
in the last 30 minutes that ES needs to take out the 44.50 resistance, and if it doesn't even get over 42 then pressure is on to go to or through 34.50-33.50 on a decent pullback

25 Apr 2018 03:28 pm
still coming down but beware of a potential turn back up from around the 37-36 area which was a prior resistance on the way up. Breaking under that and holding would open the door for a bigger breakdown, so must bounce over 42 pretty soon to avoid th

25 Apr 2018 03:29 pm
have a great rest of your day. Update tonight and then I will catch you here in the morning. Take care!

 

INTRADAY LOG FOR MONDAY - APRIL 23, 2018

23 Apr 2018 09:16 am
Good morning. This early strength probably is not going to hold and the ES come back down to around the 77-76 and needs to hold around their or the 73-71 area at the worst

23 Apr 2018 09:26 am
A decent pullback needs to hold around the 73-72 area, not go under 71 or there could high in place for a while if a bounce holds under 76-77 area again after that

23 Apr 2018 09:28 am
I will update about 5-10 minutes after the open but not expecting this early strength to hold for very long. It would have to stay over 77-78 resistance after breaking through

23 Apr 2018 09:32 am
Heading down to or through 73-72 and hold under 77-78 initial resistance to do so

23 Apr 2018 09:36 am
Sold down from the initial resistance to the 73-72 area and if this can't bounce back from that area then it can keep going to or under the 70 area

23 Apr 2018 09:39 am
Has to keep going and take out 76 with some gusto or another leg down

23 Apr 2018 09:43 am
Has to take out 77-78 or else still going to keep pulling back for a while breaking 71.50 Friday close could mean going back down to or through 70

23 Apr 2018 09:50 am
Friday's close broken through and should keep going through 70 towards 68-67 and that should get turned around or else strong downtrend will continue. Right now needs to get back over 73 and stick or still bearish

23 Apr 2018 09:55 am
67-66 area has to hold and get over 72 and hold in order to get a bounce of some sort that should be hard to hold. That will be a key area to hold

23 Apr 2018 10:00 am
Need to keep going over 73 and hold around 72 if this is going to keep going and not have another decent pullback

23 Apr 2018 10:02 am
72 pivotal area now and will need to hold and give a good bounce from that area if it is reached or else could be headed to test or break the low area

23 Apr 2018 10:06 am
So far holding 72 but still will need to get over 75 with some gusto in order to avoid another leg back down

23 Apr 2018 10:12 am
72 was broken and went down to make a higher low so far but needs to get through 75 and only have a very small pullback hold in order to have a chance of getting to or through 77-78 initial resistance. A failure under 75 back towards the lows

23 Apr 2018 10:18 am
Bounce should bounce from a move back down towards the low at 69.25 and a move over 75 needed or else another pullback may not hold those lows.

23 Apr 2018 10:25 am
ES somewhat range bound and should hold 72 area to avoid possible breakdown, or go over 75 and hold 73 if there is going to be a chance at the 77-78 initial resistance

23 Apr 2018 10:28 am
Has to pop up from 73 or else a bounce high could be in place and if not one more pop up that is sold at or below 77-78 should start another pullback of some sort. That needs taken out and held today

23 Apr 2018 10:31 am
The Dow looks like it topped out and now that ES should be sold back down to or through its low area and probably lower if a feeble bounce from around the lows

23 Apr 2018 10:37 am
With the VIX under Friday close, and internals are barely positive, it does bring my indicators away from being VERY close to being oversold takes away that bullish set up and stays bearish unless there are <1000 advancing issues at today's close. St

23 Apr 2018 10:38 am
Well, double bottom at the moment but getting back above 74-75 should be hard to do and should make a lower low before a bounce goes back above 74-75

23 Apr 2018 10:42 am
Two quick tests of the low held, but not going up strongly. Token lower low around 66.75 would need to be quickly reversed if reached soon, but has to be with some momentum and not go up and then just stall out

23 Apr 2018 10:48 am
ES has been range bound mostly inside of the first 25 minute range and needs to get over 77-78 initial resistance or under the double bottom around 67.50 without getting turned away right away if it's going to get out of this range and stick, not jus

23 Apr 2018 10:53 am
75 reached so far and should hold 73 have a chance at the 77-78 area but probably not get through 78 and be able to stay up there very long if reached or broken

23 Apr 2018 10:58 am
Pullback held 73 so far and needs to be broken and held at or below after that 73-73.50 after that, or else could poke up to around the 75-76 area again and probably sold around their again for just above at 77-78 which is now a major area.

23 Apr 2018 11:06 am
Turning up from 73 and unless broken current uptrend intact and has to still get over 77-78 initial resistance, and if so there is a cluster around 81.50 area but will take some work. Pullback before even a chance of getting up there

23 Apr 2018 11:10 am
77.25 reached so far and 78 top of the 77-78 zone made just after opening regular trading hours, and taking that out and then holding 76 would be needed to avoid a potential reversal

23 Apr 2018 11:11 am
A slightly higher high so far at 79.25 and should stay strong and push higher as long as holding over 77-76 until reaching 81.50 area or more

23 Apr 2018 11:17 am
Went right through 81.50 up to 81 and as long as 80 holds it can avoid coming back to 77.50-76.50. Stalling out here, so if it doesn't roll over soon then could go up to 84

23 Apr 2018 11:23 am
Stalled out more than 10 minutes and should begin bigger pullback down towards 78 area and then bouncing again, through 80 area

23 Apr 2018 11:32 am
Backing away quickly from a double top at 82.50-83 and unless broken and takes out 80 it could go back to the 78.50-77.50 area or more if breaking 80 gets momentum

23 Apr 2018 11:40 am
needs to hold above 78-77 and not get down to or through that area or else should keep coming down to or through 75.50 or lower

23 Apr 2018 11:44 am
pullback turned up at 78.25, holding just over prior resistance at 78-77 and staying in an uptrend. If there is a move under 78-77 then a bounce after that should fail under 80 area at most. If 82.50-83 broken through, another 4-5 points higher possi

23 Apr 2018 11:47 am
double top should be in place now and headed to or through 78-77 going under 80 especially.

23 Apr 2018 11:50 am
76.50 reached and needs to bounce back above 80 or else keep heading down to or through 74-73 which should be a major area to hold on this pullback

23 Apr 2018 11:53 am
so far today 8.75 and 10.50 points pullbacks and just had 7.25 point pullback so far, and should go more than ~9-10 point pullback at most or else symmetry broken along with pullback low where strong buying started

23 Apr 2018 11:58 am
the VIX went up to 17.30 and dropped pretty fast all the way back to 15.85 so far, should help keep bounces from sticking – and less it's going to keep going another ~1 point to a mega overly bullish reading

23 Apr 2018 12:00 pm
another run up from 75.75 again will need to go over 80 and not get turned right back down by much without another quick upturn if going back up to test double top 82.50-83

23 Apr 2018 12:08 pm
acting like it does not want to stick on bounces right now and could be coming back down to the 76 area soon

23 Apr 2018 12:10 pm
need to make a move over 79 without getting turned right back down otherwise still coming down to test or break 76 for a third time.

23 Apr 2018 12:14 pm
pop up was rejected at 79, and should be turning into important area to get over and stick or else could keep going through 76 if broken on a third time down there

23 Apr 2018 12:16 pm
I will be away until around 1:15, but will update when necessary. I'm going to be tied up on a telephone call for a while so if something happens without an update that's why. Look for 73 area if this goes right down through 76

23 Apr 2018 12:35 pm
that ES is almost to the 73 updated support and will need to have a bounce that takes out 75.50-76.50 and not turn right back down otherwise keep pushing lower and possibly of going back towards the lows

23 Apr 2018 01:00 pm
should be a low in for a bit that 69.50, but only if it can get back over at least 72.50-73.50, and especially 76 again. Watch those areas for potential pullback

23 Apr 2018 01:01 pm
or as targets if there is a small pullback that holds this pullback low first

23 Apr 2018 01:10 pm
rolling over from updated bounce resistance and headed back to test or break through 69.50 now

23 Apr 2018 01:13 pm
2 rejections of the 73 level so far and 73 area and then 75.50 need taken out in order to get an uptrend. It still a short just under 73 at the moment

23 Apr 2018 01:16 pm
bounce to break 72.75 allowed for a short with a really tight stop, so great risk reward opportunity and breaking down through 69.50 gets the downside going a bit more and possibly the lows

23 Apr 2018 01:19 pm
with the Dow still needing to roll over another 5-10 points or more that ES may not get back to the 69.50 area at least right away unless it gets hit with some selling at or below 72 on a bounce

23 Apr 2018 01:21 pm
bounce should keep failing and stay under pressure unless there is a move that takes out 73 – also have 60 EMA around their and has offered good trade on Friday also

23 Apr 2018 01:25 pm
with a quick up turn from 70, likely needs to make a move up over at least 72 and 73 especially in order to avoid going down to the 71.50 double bottom area. The Dow cash needs to hold 24,449 area or it could have further push lower also helping the

23 Apr 2018 01:34 pm
bounces should keep failing as long as it is not able to get over 73 area and hold over that again

23 Apr 2018 01:41 pm
another filled bounce attempt at 72.50 this time but needs to take out the bottom of this range at 70-69.50 pretty soon or else will make its move over the top

23 Apr 2018 01:44 pm
another quick pop-up from 70 again and the ES has been in this range since 12:55 low and 12:05 high until now after 40 minutes in that area

23 Apr 2018 01:48 pm
with the Dow coming back down also and the NQ not too far from its 6658.75 low, would need to spring back from another push lower if there is a one that tests 67.50 area and 24,431 on the Dow cash. Look for a move towards that area to at least give

23 Apr 2018 01:50 pm
another pullback now should be bought and should be from a ways above the low and get over 73. Looks like the 70.50 area is about as far as a pullback should go to get a bounce of some sort anyhow

23 Apr 2018 01:53 pm
taking out 73 could cause some short covering and needs to keep going up to around 75-76 before being sold, otherwise could be a failed breakout and decent pullback would need to hold 71.50-71 at worst it looks

23 Apr 2018 01:59 pm
we had a 15.50 point run up and a 13.75 point pullback and now will need to hold around the prior resistance around 73-72 and turn up, otherwise a bounce high could be in place and continue being sold back towards the low area again

23 Apr 2018 02:03 pm
ES will need to turn up from around 72-71 or else keep on going down to around 70 and a chance it could go back to the low although there should be a small bounce at least before getting there is we are headed there

23 Apr 2018 02:08 pm
a bigger breakdown to new low at 66 so far and can keep going down towards 62.50 area where it must hold or else risk a move to or through 58 major area especially for today

23 Apr 2018 02:12 pm
64.25 low so far and is the area where the ES was able to reverse and held 1 point below that level before getting legs again late on Friday. This bounce will need to make its move back over 67 and especially 70-71.50

23 Apr 2018 02:15 pm
amazing that even though the VIX is running up from a pullback low at 16.07 up to 16.63 and not even in plus territory, and it will come down if prices go up, and when the VIX gets stretched prices will fail. It has room to jump over 17.50 and keep g

23 Apr 2018 02:20 pm
initial support at 62.50-61.50 was reached, and there is plenty of room to still go lower and that would be the 58-57 major area just a bit under today's low and that could be reached if this continues

23 Apr 2018 02:23 pm
touched 61.50 and popped up but would need to run up over 65.50-66.50 and then hold around 64.50 on a dip at worst after that, otherwise trend down still to a new low and headed towards 58 area or lower

23 Apr 2018 02:32 pm
turning around from 60.50 but should be just a feeble bounce again that holds under 84.50-85.50, but if broken above and able to hold on a small pullback, could be some kind of run up underway. A major area is at 69.50-70.50 but should not see that

23 Apr 2018 02:35 pm
feeble bounce reverse that 63.50 and holding under that area sold keeping pressure on, still heading towards 58 if this kind of action continues

23 Apr 2018 02:39 pm
there shouldn't be a bounce that takes out the 63.50-64.50 area and then can hold on a tiny pullback and get turned back up again– that could get the market out of trouble – but instead should keep pushing lower until 58 is reached. should take o

23 Apr 2018 02:47 pm
a failed bounce attempt but should be able to hold around the low or else would keep on going down to or through 58-57 due to this being a rather feeble bounce given the size of other bounces

23 Apr 2018 02:52 pm
so far pullback has held above its low, but should be going through that area and could still go to or through 58 if this is going to continue and stay under the last line high at worst

23 Apr 2018 02:53 pm
still looking for 58-57 area to be touched or broken through on this move down

23 Apr 2018 03:00 pm
turning up from the bottom of the 58-57 zone, but has to go up with some gusto still and first take out 60.50-61.50 and hold and then the last high at 65.50. But if nothing has changed, yet one more push lower in the last hour

23 Apr 2018 03:03 pm
the low came at 2:55, so time for one more move lower but probably to a higher low if there is a pullback before getting to or through 65.50 66.50 area, and especially up at 70.50

23 Apr 2018 03:13 pm
made it up to 65.25 and so far pullback looking like it wants to hold that 83 area so has to stay above there or else have further downside rather than a better bounce attempt in the last hour, although it may not stick a bit higher up

23 Apr 2018 03:17 pm
looking like another bounce attempt has to have a lot of power otherwise that's going to be a bounce high for a while at least at the 66.50 level and taking out 63 on the downside is acting as good support to break to make another push lower and prob

23 Apr 2018 03:23 pm
getting more last hour run up however almost to the 67.50 prior low that was holding and needs to hold 64-63 or else there could be a late pullback instead of keeping this bounce attempt going.

23 Apr 2018 03:26 pm
very large bid at 65.25 area was able to keep this holding the 64-63 late day uptrend support/possible breakdown area if not held but broken/held instead.

23 Apr 2018 03:31 pm
above the bounce high at 67.25 is the 67.50 level and then if no sign of a turn keeps going to or through 70.50 area next where there should be good resistance if reached, or 73-74 possible. 64-63 on the downside will need to hold for this to stay in

23 Apr 2018 03:34 pm
should keep going up to test or break 69.50-70.50 and if there is no sign of reversing around that area, there is a chance of getting to around the 73 area.

23 Apr 2018 03:36 pm
have a great rest of your day. Look for tonight's update this evening, and then I will meet you here in the morning before going online a little before 10:30. Until then take care!

 

INTRADAY LOG FOR FRIDAY - APRIL 20, 2018

20 Apr 2018 09:13 am
good morning. It looks like there could be an early bounce but likely not going to stick

20 Apr 2018 09:17 am
has to get over 96 and not get turned right back down from that area. If that doesn't get up there than it could go down through 93 to the 91-90 key area just below

20 Apr 2018 09:25 am
looks like early pop-up should be sold into and then bought on a dip as long as 93 and especially 91 area holds. If not then a downtrend needs reverse. I will update about 5-10 minutes after the open

20 Apr 2018 09:33 am
has to keep coming down through 91 and not turn right back up in order to have a high in place although upside limited for sure

20 Apr 2018 09:34 am
holding under 92.50-93 will keep the pressure on

20 Apr 2018 09:35 am
should hold under 91.50-92 area

20 Apr 2018 09:38 am
has to keep coming down through 88 and then hold under 89-90

20 Apr 2018 09:41 am
need to hold under 90 or else can go up to around 91.50-92.50 area and come back down again

20 Apr 2018 09:42 am
90.75 sold and unless this can get back over 91 area and hold up there then still under pressure

20 Apr 2018 09:46 am
holding under 89 to keep pressure on for another token lower low at least

20 Apr 2018 09:47 am
has to get over 89 and hold

20 Apr 2018 09:50 am
88.50 bounce high so far and will need to make a lower low soon or else take out 89 and could get going on the upside

20 Apr 2018 09:52 am
quick reversal down from 89.75 and 91 area is going to be pivotal and bearish unless broken

20 Apr 2018 09:56 am
holding under 87.50 area needed to get a further breakdown to the 84 area

20 Apr 2018 10:01 am
bounce from 86 and needs to get over 90-91 on a bounce or else another leg down. Stays bearish and less that area is taken out and able to hold

20 Apr 2018 10:03 am
still being sold on all of the level pop-ups and should stay under 89 area now and keep making lower lows on the way towards 84 area and maybe more than that

20 Apr 2018 10:08 am
downtrend and tax holding under 87.50-88 area right now and still headed to or through 84 area

20 Apr 2018 10:12 am
84 reached and unless this holds and bounces over 87-88 with some gusto it could keep going to the 82.50-81.50 That Must Hold to Avoid a Bigger Breakdown

20 Apr 2018 10:16 am
still needs to get over 86 at a minimum and especially up through the 89 area with some gusto

20 Apr 2018 10:21 am
86 reached and needs to hold on a tiny pullback at 85.25-84.50 at worst in order to keep pushing higher towards 87-88, still holding under 89 would be bearish

20 Apr 2018 10:25 am
needs to take out 86.50 and then 88-89 would be seen and needs to also keep going up through 89 or else stays in a steady downtrend

20 Apr 2018 10:31 am
trying to get turned around and should take out the 89 area if it's going to turn strong. Must turned up on a small pullback to around 85.50

20 Apr 2018 10:35 am
pullback turned up at 86 and almost to the 89 area where it needs to run up through and not turn right back down. Going up through 91 and sticking needed to get into stronger position

20 Apr 2018 10:37 am
backed away from 88.25 and now with bounce highs that 88.75 and 88.25 the 88.58 area should be a key resistance to clear/hold or else another lower low down here

20 Apr 2018 10:40 am
ES has been bought at 84, 84.25, 84.50 and 84.75 the last time down. However bounces are going to keep mailing under 88.50-89 and should take out that area on another push lower

20 Apr 2018 10:44 am
as it made a new low just yet but should and go to or through support at 82.50-81.50 and would need to immediately turn up or else bigger breakdown underway

20 Apr 2018 10:48 am
double bottom at 83.25 at the moment and just over the 82.50-81.50 major area, but a bounce should not get to or through the 88.50 area and taking out 82.50-81.50 area more likely and should happen soon

20 Apr 2018 10:53 am
taking out the 81.50 low of that 82.50-81.50 support keeps is in very bearish territory and could collapse further to the 76.50 area next which must hold or else down to 73-72 – a major area that must hold today

20 Apr 2018 11:00 am
dropped right down to the 76.50-76 zone but now has resistance at 81.50-82.50 that needs to be cleared and held just to attempt getting back to bottom before latest breakdown cutting right through. doubt that is going to be low for the day, with all

20 Apr 2018 11:03 am
yet another feeble bounce and drop back to the lows and should keep going down to test or break through 73-72 next. If broken then right down to the 66.58 area could happen

20 Apr 2018 11:07 am
came right down to 72.50 which is a major area for today, but the way the market is acting it early shouldn't matter is that should also be broken also and head towards 66.50 or more the way it's acting at the moment

20 Apr 2018 11:09 am
will need to have a good bounce back above the 79.50 prior bounce high or else buying dips isn't going to work but selling pop-ups or bounces that small or show rejection are good shorts – or the short under 76.50 right now

20 Apr 2018 11:18 am
68.25 low so far and a failure around the 72.50-73.25 area could mean another decent push lower to around the 66.50 area possibly. A move back over that area needs to keep going up through 75.50-76.50 or else a failure from there possible if reached

20 Apr 2018 11:21 am
should stay under 66.25 and have another decent pullback here

20 Apr 2018 11:26 am
should come back down to test the low, beware of a potential double bottom or higher low on a move down as there is a good chance it will be bid back up if the Dow does not roll over again in the next 5 minutes

20 Apr 2018 11:31 am
almost back to the low and needs to run up above 74.50 in order to have a possible double bottom in place for a while, but bounces still not going to stick a bit higher up

20 Apr 2018 11:34 am
unless this is able to get over 74 and hold then another move down towards the low can happen going under 72-71.50 without a quick reversal back up

20 Apr 2018 11:40 am
needs to hold 73.50 at worst and turn up in order to leave that 123 bottom in place as a low for the day possibly and keep going for the 78.50-79.50 new resistance

20 Apr 2018 11:44 am
78.50-79.50 area should give some sort of pullback and if it does not hold 74 at worst then another bounce that follows should be sold also

20 Apr 2018 11:55 am
tested but hasn't broken 74 yet but should still see bounces sold as long as a hold under 78.75-79.50 and go back down to make another higher low

20 Apr 2018 12:01 pm
bounces still not sticking and should continue to be sold as this goes back to its low area or a little higher possibly before another decent bounce most likely

20 Apr 2018 12:10 pm
another higher low by a couple of points this time and needs to take out 75 and stick above that level is going back up to or through 78.75-79.50 new resistance

20 Apr 2018 12:12 pm
I will be away until around 1:10 but will update if necessary ASAP although maybe tied up for a while and unable to update just in case you don't see one after some activity. Continue selling bounces as they are not sticking

20 Apr 2018 12:46 pm
made a token lower low at 66.50 and just tested 67 but needs to have a run up that takes out 72.50-74.00 area without turning right back down under 72 again to try to take some pressure off for a while, and possibly try for 77-78 if a good run up –

20 Apr 2018 12:54 pm
another new low at 64.75 and there is some minor support around the 63-62 area where a bounce should come from if reached, as it's 75% retracement from swing low 2644.75 day session on the 13th

20 Apr 2018 01:03 pm
ES has been getting bid right back up on the last 2 pullbacks and might have a low in place at 64.75 for a while, and 66 holding at the moment. Bounces have not been sticking and testing those lows, so need to have a move go back over 70 and then 72-

20 Apr 2018 01:25 pm
the Dow cash made a double bottom of sores while but ES was holding 66 after making its low at 64.75, and now this bounce back failed again at the 72.75 level for a third time around 72-73 and still is a chance at testing the low area unless 72-73 is

20 Apr 2018 01:28 pm
there was some decent buying and quick moves up from the lows made around 66, and SHOULD be a low for the day normally, however the way this is acting it needs to clear 72-73 and stick

20 Apr 2018 01:30 pm
just started a run up as soon as I hit the send button for last update. Quickly backed off from 73.75 but needs to hold 71.50-70.50 at the worst now for this to stay in a bullish mode

20 Apr 2018 01:32 pm
bigger picture there should be much more upside if any before a decent pullback again happens although should hold over the 68.50-68 area to avoid going too far and making it so the next bounce is sold instead

20 Apr 2018 01:35 pm
stalled out, pullback needs to turn up at 71.50-70.50 at the worst or can keep going to or through 70.50 area

20 Apr 2018 01:40 pm
there was a 10.50 points bounce earlier and now taking out 75.25 would be >10.50 points and break bounce symmetry, and with being bought a pullback even should hold 73 and break through

20 Apr 2018 01:46 pm
currently at the down sloping 60 EMA on the 5 minute day session chart, and should see some pullback especially if this stalls another minute and then rolls over. Needs to hold under 76.50 area to stay under that resistance

20 Apr 2018 01:48 pm
it has turned into a choppy trend up kind of move after coming up from the lows and holding 68 under again where early double bottom was made, and should see hold back here

20 Apr 2018 01:54 pm
stalled at the 60 EMA and a small pullback so far to 74 which needs held or else could keep coming back to or through 72-71.50, a key area that needs held above to avoid another decent pullback

20 Apr 2018 01:55 pm
also I don't normally do intraday fib numbers but 77.75 which is just above 76.50 where it stalled, that I is a 38% retracement from yesterday's late 2699 high to today's low. The 11:40 bounce high was 78.75

20 Apr 2018 01:59 pm
pop up sold and 77 was the high for the move and unless that is taken out and able to stick it's going to be another bounce high at the 60 EMA and failure with deeper pullback coming, could be afternoon drop of some sort after this early afternoon ra

20 Apr 2018 02:02 pm
if this goes right down through 72-71.50 then it could keep going to or through the 68.50-68 area before any sort of bounce attempt. But should try from 71.50 if not going to go straight down from that bounce high/rejection

20 Apr 2018 02:07 pm
so far the 72-71.50 new support held, but still needs to be a good bounce that takes out the 77.75-78.75 area, more likely to be sold if reached than have follow-through buying. Backing away from 75 could mean more downside through support

20 Apr 2018 02:14 pm
coming down from that bounce high to the 60 EMA that stalled out and then had a Spike rejection after that, and should keep going down towards 68.50 if this takes out 71.50 and not able to get turned up from there

20 Apr 2018 02:19 pm
61.50 early broken however should be taken out as long as this holds under the 72.50-73 area to keep pressure on to test or break 68.54 more

20 Apr 2018 02:25 pm
a bounce off of 70.25, and should come back down again but not all the way through 70.25 or else would keep failing until getting to or through the 68.50 area or lower

20 Apr 2018 02:29 pm
to stay in this downtrend, the down needs to keep being sold on level bounces and hold under 24,480 right now and that ES needs to also keep failing and being sold at or under the 73-74 area if points to come back down to another low again

20 Apr 2018 02:32 pm
so far bounce failed at 74 and looks like these last lows at 70.25 on the ES and 24,459 need to be broken on the downside if this is going to have another breakdown instead of a pullback and start new uptrend attempt

20 Apr 2018 02:34 pm
this is going to be sold log bounces back down to either 68 and turn around quickly or keep on going down towards the lows or more again which is likely before and of day

20 Apr 2018 02:35 pm
maybe the only thing to possibly hold this up would be some shorts covering in unison, but not until testing or breaking the low area it appears. Could bounce but should fail at or below 73-74 maximum

20 Apr 2018 02:46 pm
so far a 53.25 point drop from the 2718 Wednesday high. 30 point drop from this morning's high. there was a 10.50 point bounce and a 12.25 point bounce so far today, and bigger picture bearish still under 74-75 area at the moment with lower lows comi

20 Apr 2018 02:49 pm
Hmm, bounce off of 67.50 last lower low and needs to keep coming down and break that to be sold on another bounce attempt. That should happen soon

20 Apr 2018 02:50 pm
a bounce from this area needs to be strong enough to run up above 71 to try putting in a low for a bit. Anything shy of that is sold again. Stays bearish under 71 at highest right now

20 Apr 2018 02:54 pm
every tiny bounce now being sold into under 70 and has to get over 70-71 area with some gusto in order to hold after that in order to avoid another push lower and begin moving away from that resistance

20 Apr 2018 02:56 pm
however if that area is taken out and able to stick, then it could be start of moving up to test 74-75 at least. That's where the 60 EMA is currently, also downside where selling came in hard at 2:30

20 Apr 2018 03:00 pm
another failed bounce attempt and should go back towards the lows on this move

20 Apr 2018 03:06 pm
market on its low's across-the-board and selling should continue as long as a bounce attempt will hold at or under 66.50-67.50 at the moment

20 Apr 2018 03:09 pm
area on the chart not listed last night is here at the 60.50 area however should go to or through 58-57 if there is not a quick and strong move higher from 60.50 somehow

20 Apr 2018 03:17 pm
this bounce off of what was a prior breakdown area on 4/13 had just above the close that day, and then a gap up open the next day that only got filled today when 80.50 was broken. looks like the only way to avoid late day breakdown if that holds as a

20 Apr 2018 03:21 pm
with about 40 minutes left in stock trading for the week we have all of the averages sitting right above or on the lows for the day and should go through those as long as holding under 64.50-65. Prior low and bounce high from 60.50 area so far, could

20 Apr 2018 03:30 pm
another feeble bounce but so far reached 65 and 64-65 area is what needs to be broken above and held in order to have a late day run up instead of keeping the door open for another move down to or through the low of the day. 58-57 if a lower low shou

20 Apr 2018 03:31 pm
if this can get over 65 and then hold around 64 after that, it might have enough momentum to go higher and not have a further breakdown. A pivotal area around 65

20 Apr 2018 03:38 pm
with this holding at 59.75 and just above support and now turning up at 3:20 PM and again now that 3:35, should be hard to go down and make lower lows at the end of the day. There might be a chance unless the ES keeps moving higher and gets back over

20 Apr 2018 03:39 pm
pullbacks should hold now it looks and keep end of day move higher going back over 67.50-68.50. Would need to hold and not reverse there

20 Apr 2018 03:40 pm
have a great weekend! I'll send you an update and then meets you here on Monday morning. I think things should be back to normal again next week I'm hoping. Take care!

 


 

TradeStalker.com, Investment Advisory Service, Fort Wayne, IN

 

 


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