The ES dropped into our swing buy zone between 1968 and 1972.50, reaching lows of 1970.50 before buyers came into to defend support and squeeze the shorts. Once the late shorts were trapped below the previous session’s close, the short squeeze was on for 1980, 1987, and beyond – a move that covered all of 20 points!
The ES dropped into our swing buy zone between 1968 and 1972.50, reaching lows of 1970.50 before buyers came into to defend support and squeeze the shorts. Once the late shorts were trapped below the previous session’s close, the short squeeze was on for 1980, 1987, and beyond – a move that covered all of 20 points!
We nailed the ES today in our pre-market playbooks! Our swing buy zone of 1968 to 1972.50 held up nicely for swing bulls, and once the buy stops came out above 1980, the race was on for 1987 and beyond. Here’s our outlook, and a review of how the day transpired.
Crude Oil continues to trade within a coiling range, which has a backend measurement of nearly 6 points. Once expansion from this range occurs, we could see a 5-6 point in the direction of the break.
The ES and NQ have both pulled back toward the lower end of their respective ranges, which means another swing buying opportunity could be around the corner.
