Actionable ideas for the busy trader delivered daily right up front
- Tuesday lower, medium confidence.
- ES pivot 1990.58 Holding below is bearish.
- Rest of week bias lower technically.
- Monthly outlook: bias higher.
- ES Fantasy Trader standing aside.
The markets had a bad day on Monday as expected. Tonight I'm once again running late so this will be another Readers Digest Condensed Night Owl. I did all the research, but I'm skipping the detailed chart run down. We'll do that again next edition.
And the winner is...
Despite all the damage that was done Monday, it wasn't enough to drive anything oversold nor form any bullish stochastic crossovers. The technicals continue to look bearish despite what looks like an attempt at a DCB in ES at 1 AM as I write. So overall, the only call I can make here is for Tuesday lower. I'll be happy to be proven wrong.
ES Fantasy Trader
Portfolio stats: the account remains $114,250 after eight trades in 2014, starting with $100,000. We are now 6 for 8 total, 4 for 4 long, 2 for 3 short, and one push. Tonight we stand aside.