ES Monday 7-10-17
Just not super motivated yet from the holiday week. I'm working off of four main areas and those are
2429.50
2426.50 - 2427.50
2423.25
2416.50 - 2418.50 - this is zone I think they will ultimately need to test and in general prefer to be short today
Keep in mind that Friday was a very low volume rally and also that last week was an inside week. We also created the "P" profile which usually denotes just a short covering rally and not new longs coming into the market
If you want Volume value areas and pivot points you can go here and click on the blue text labelled "HERE"
https://www.shadowtrader.net/category/peterspremarketperspective/
2429.50
2426.50 - 2427.50
2423.25
2416.50 - 2418.50 - this is zone I think they will ultimately need to test and in general prefer to be short today
Keep in mind that Friday was a very low volume rally and also that last week was an inside week. We also created the "P" profile which usually denotes just a short covering rally and not new longs coming into the market
If you want Volume value areas and pivot points you can go here and click on the blue text labelled "HERE"
https://www.shadowtrader.net/category/peterspremarketperspective/
even though I expect that 16 - 18 area to test I am now trading for 23.25 and starting longs 2 points or lower under there....will start out slow and add in 16 - 18 area if needed...keeping it small
great call
if you were trading this late in the day there was a nice divergence as ES pushed new highs just slightly above the 29.50 number but YM couldn't make new highs...
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