6 Month Weekly chart of the ES. Until the trend is broke the blue circle shows a guesstimate of where the markets are heading.
ES and YM 10 Day 30 Minute Charts: YM lagging the ES
ES PRE MARKET THOUGHTSThis a sample of how I do my market preparation. The night before I form a hypothesis of how I will approach the day if the market gaps up or gaps down. Preparing the night before takes out all the emotion and once I see the morning gaps I then refer to my plan for the day.
White Lines show the Price Levels I will be paying attention to tomorrow along with the Highs and lows of the day and pivots:
- 1728.5 (previous gap fill, semi-support, if not for a gap fill wouldn't consider)
Will consider breakdowns if there is a nasty down candle with some volume and agreement among the index's and room to run. Would favor YM for shorting and NQ and ES on longs. A gap up I would look for a false breakout much like Fridays trade.