My Bias - Am I Bullish or Bearish on ES?🤔
Thoughts on /ES🤔
FOMC is today. So far, rejecting our 4600/05 zone and holding over 4592 level we have.
Seeing 2 scenarios play out as these both could be completely wrong.
1. a fast dip to 4560 then we reverse and head toward to 4627 and pump.
2. rip to 4627 targets and then heavy sell-off to 4560.
Those key targets are what I am watching for today.
REMEMBER FOMC IS A 3 PART MOVE.
1. Initial Move
2. Inverse move of 1st move
3. Real move next day
Upside:
Still rejecting to stay above 4600. We could see a pop over 4625 and retrace lower. If we happen to rip higher over 4625, 4703 > 4718 follows.
Downside:
Below 4560 we could see a pullback to 4530 but if that fails next is 4508. If that fails we can see 4484. Further below, then 4460 and 4420 is lined up for a deep retracement.
“Remember, the market transfers money from the impatient to the patient!”
Want To Learn Volume Profile?
Stocks We Will Be Reviewing
- FUTURES - /ES & /NQ
- STOCKS - SPY
- ETFs - QQQ (tech)
- VIX - Volatility Index
/ES
POC: 4600 / VH: 4608/ VL: 4589
/NQ
POC: 15700 / VH: 15722 / VL: 15625
SPY
POC: 455.94 / VH: 456.68 / VL: 455.17
QQQ
POC: 379.47 / VH: 380.17 / VL: 378.17
VIX
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