Sunday Homework

That was a pretty bullish day and close on Friday. The market is still in this correction inside of a secular bull market. Bulls need above 3422ish to really start thinking about changing the trends. Looks like some stuck shorts in the 3221ish area. Four hour now has a set of three nice points on a downward trend line.

ES 5 Minutes

ES 12-20 (5 Min)  9_25_2020.jpg

ES 4 Hour

ES 12-20 (240 Min)  9_25_2020.jpg

ES Daily

ES 12-20 (Daily)  7_14_2020 - 9_25_2020.jpg

Sunday Homework

Bull stampede. The market is up basically 5% in 10 days. That’s not bearish. It is also not an area I want to be buying. The first goal for the bears is back under 3490ish then hope for 3455 and 3448. We are still overall bullish over 3317. That area would be about a 6$ pullback from price now.

I like a shot at joining the bull run around 3455 and 3448 and would consider that until 33400 broke. Hold the trend line on four hour chart and we can get to 3560ish

ES Emini S&P 500 Sept 2020 Four hour chart

ES 09-20 (240 Min)  8_28_2020.jpg

ES Emini S&P 500 Sept 2020 dailychart

ES 09-20 (Daily)  4_29_2020 - 8_28_2020.jpg