29 May
Cancel 901.50 CT long / Update
Posted in Intraday Analysis by Bob English at 13:24:09 Comments are offThe 901.50 CT long is cancelled as it is too close to the 902.75 morning low and selling could pick up if it is exceeded. The ES has consolidated and stayed below VWAP most of mid-day and we should see movement pick up by 2:00 pm EDT. Shorts will likely fade a rally at 911.00, and don’t want to see the morning high of 912.25 get exceeded. Longs will enter at 904.25 and don’t want to see the morning low exceeded. Trading the range breakout could be dangerous to the downside as there is a lot of support around 900 and it is probably best to wait for pullbacks to see if the 50% retracements from the breakout level are respected. 915.75 is still the number to beat for longs.



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