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Tomorrow 10:30 am crude inventory report. That will definitely move crude price in a big way. So far this year, ES has been following crude almost tick by tick. If tomorrow crude goes up or down, ES will follow. I don't remember when was the last time crude rallied on the inventory report. Actually, I never really pay a close attention on this.
For today, I was looking for a ES rally to possible 1950 area. We got the rally. But it only went to 1940. Maybe that is all we can get, if tomorrow crude goes below $30.
ES is short term oversold, RSI is 34, NYMO -61. It is hard to initiate short at this level. The better strategy is to short on bounces, or short on a negative event which will bring the index to new low. I am bearish in intermediate term. I believe ES will at least test 1860~1865 area before a real bottom is made.
For tomorrow ES trading:
· I don't have a bias for tomorrow. Completely open minded.
· All eyes on crude inventory report at 10:30 am.
· If crude goes below $30, ES will follow, and possible retest 1892.5.
· If crude can rally, ES can rally as well. The upside target could be 1950~1953, or even 1967~1970 later this week. |
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狗仔卡
发表于 2016-1-12 05:35 PM
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发表于 2016-1-12 05:45 PM
发表于 2016-1-12 07:10 PM
