Thursday, April 2, 2015

Thursday April 2nd Levels and Plan


Today we will be using 47-49 as our bull bear zone. If ES can break above this then we may see a test of the 63-65 zone. Where id expect sellers on first test unless ES can open above 54s and drive higher where id be cautious.

Above here we have 70-72 where id expect sellers to step in on first test and this could cap any upside moves.

Below 47-49 ES can test 35.25-37.25 and head back to value in a balance day type scenario. We would need a good intraday setup here. A break below here would suggest a potential liquidation type move to 21-19, this must be on weak internals or ES could perform a failed breakout and head back to 47-49.

Overall today we must judge if ES is going to try to stay within and extend yesterdays balance, or if it is going to reject it completely and head to some of the higher/lower more extreme trend day targets.

Happy Trading.

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