Yesterday's TREND = Gap Seal and reversal and Strong Up Trend
Yesterday's Power On Close = Strength
Today's Open = GAP Down (1pt)
Result = Pre Open continuation of Globex highs
Today's TREND = Down
Today's 15 Minute Close Bar =DN@ 1334.00
Today's Power On Close = Weakness
Daily Volume = 2.23M Volume
Today's $TICK close = +155
Daily Market Bias For Tomorrow =
0.286 Moderate Range
Today we saw a continuation sell off from the pro-open highs. Thursdays Daily showed Heavy Block activity. The bar closing at the top signaled a potential short with a failed test and Rambos at the highs of the Globex session. Price began to sell off into the preopen and continued into the open. Bouncing at the 7 zone and continuing to midday.The @ES Daily shows Exhaustion near the highs and Bearish Divergence on the failed attempt signaling down side pressure and Weakness. However We could see a bounce on monday as the Cycle turns up and Block Activity comes in on the Down Bar, a break below the long term bullish Trend line around 1330 could see a free fall as stops get taken out near the 1324 area. Keep Close watch next week.
TRADE OF THE DAY
The TOD came at the 7 bar zone with a No Demand bar at 15 cycle resistance, and POC along with a 4500, 1500 cycle resistance and 500 EOT cycle resistance.
All sync move that ran 16 points the lows.
15 minutes
1500 & 500 cycles
4500 down trend continuation at 7 bar zone.
WHAT I COULD HAVE DONE BETTER:
Did not Trade