[07:47:02] doesnt look like 998 is holding... i still think ES will bounce up so will not fade an
open gap if ES is this low... might even take long scalp not sure....or might not play the open and just wait on sidelines
At 6:40 I suggested a decline to 998 and a bounce up...we did get the bounce up at 7:00 AM but it hit a wall at 1002 and declined... the ideal scenario called for a higher high, instead it turned down and is now at 996 headed maybe to 992.
Thurs 6:40 AM:
ES made a high so far of 1003.75, is currently at 1000.50. It looks like the 1000 support will be broken at least temporarily for a test of 998. 998 must hold for possible re-test of 1004 and then perhaps go to 1007.
An ideal setup would be for it to get to 1004 or 1007 for a possible SHORT when the market opens to fade the gap up. Right now, charts are showing signs of upward momentum fatigue which suggests a fade, but of course that could change in the next 3 hours. Will re-eval then to see.
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