good evening,
i initially expected es to go slightly deeper than it had originally did, and did not expect this random move up last week.
was quite the short covering that probably caught a ton of people off-guard.
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after a 3 wave move up these last few days, we saw a sharp move down for todays futures opening session.
this tells me one thing, es will likely see lower prices, but not before a slightly higher bounce to retrace the entire drop from january.
this week might be filled with chop, before seeing follow through to the upside.
a move up to about 4530 is expected, before seeing lower prices in the month(s) ahead.
i initially expected es to go slightly deeper than it had originally did, and did not expect this random move up last week.
was quite the short covering that probably caught a ton of people off-guard.
---
after a 3 wave move up these last few days, we saw a sharp move down for todays futures opening session.
this tells me one thing, es will likely see lower prices, but not before a slightly higher bounce to retrace the entire drop from january.
this week might be filled with chop, before seeing follow through to the upside.
a move up to about 4530 is expected, before seeing lower prices in the month(s) ahead.