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  #1014 (permalink)

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Manta, Ecuador
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Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
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What might it do next?

A great deal of support at the 3025-50 area. If we come down and find support, it seems extremely likely we will bounce a bit and come back up into this consolidation trading range we've been in for almost 3 weeks (3000 to 3300).

However, if sellers really pick up momentum and we break 3000, I think it could cause an accelerated move down to 2700.

Based on the news (which I try to ignore as much as I can), I would say this "holding pattern" (trading range) is the most likely scenario for the time being.

Edit: Oops should be "HL or LL depending on context" on that first one, type-o.


If I feel support has been found at this area, I will long based on the trading range established over the last several days.

If I feel support has broken, then like I said above, I think a run down to 2700 (or lower) is likely, and I will be short once I feel the breakdown has not been rejected.


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