Stiff Rejection at 1,336
The E-Mini S&P 500 found major resistance at 1,336 today, which sparked heavy selling pressure throughout the day. Could a trip back toward the June lows be ahead? My thoughts..
Today’s ES Trade Plan
The E-Mini S&P 500 has been extremely strong thus far in 2011, making every pull-back a buying opportunity. Given the ES’s current behavior, I’ll be looking to execute the following plan of attack for my first trade of the day…
Sell Signal in the ES
A sell signal has fired in the daily chart of the E-Mini S&P 500 futures contract (ES..), which forecasts a potential decline and a change in trend. Let’s take a look..
Action Levels for the ES for 7/20
The ES played extremely well off our Action Levels yesterday, as two decent sell opportunties led to moves of 12 and 9 points. Given yesterday’s relatively quiet trading day, we could see another explosive breakout/trend day upon us. Let’s take a look at the levels to watch for today’s trading.
Action Levels for the ES
After Friday’s decline, the ES could be on the verge of much more selling pressure ahead. Take a look at the action levels that I’ll be looking to play today.