5 thoughts on “*** Buy ES NOW Targ=2675.25 Stop=2660.25 TS=eod (disc)

  1. premise: breakout would mean expansion. Inflection trade (small stop loss excursion, larger profit excursion.)

  2. reasons NOT to like the trade: The 10:30 highs weren’t HODs. The DOW would need to break above the high from 2 trading days ago. Looking at the dailies, mean reversion, depending on how you come up with a nexus, is to the downside.

    reasons to like the trade: looking at the dailies, ES, YM, and NQ are all above the range of the prior two trading days. Healthy pattern as price moved up from the open to about 10:30 this morning. On 5 minute charts, almost everything (all the markets I watch & many big stocks) are showing ascending wedges. This is, generally, betting on breakout before the breakout actually has been put in. The 10:48 low is really close (tight stop.)

  3. The ES and NQ are both near their 10:48 lows. I’m sure a lot of traders will be watching. Our stop isn’t far below.

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