Our Post-Market Reports offer reliable analysis of the short and longer term trends, and also reviews any key details of the intraday session, while also providing forward-looking and actionable analysis.
It doesn’t get much better than that, folks. The E-Mini S&P 500 opened with timid strength this morning and rallied right into the 1650 level, which caught offers immediately. The 1650 level became the high of the day, and the ES dropped to each of the targets mentioned above except the last one, which missed by a tick.
Match. Set. Point! The 110.07 level I offered in the pre-market report turned out to be the high of the day, and price sold off heavily into my 108.88 target before finding the day’s low at 108.40. Again, it really goes to prove that the professional price levels that floor traders and other pro traders use are oftentimes the only levels you need on your charts.
Monday’s market was rather dull for most of the session. The market opened bullish and pushed quietly higher throughout most of the morning. However, a late-day sell program kept things interesting in the E-Minis, as prices sold off heavily from key overhead resistance levels.
Friday’s market saw overnight strength, followed by a “buy the dip” opportunity that led to a slow rally the rest of the session, which has been the pattern du jour of the summer so far. I participated in the move by buying the E-Mini S&P 400 futures contract (EMDU3) at the 1208 program level that I had identified over the last few days, which eventually led to strength back toward the session’s high.
