Actionable ideas for the busy trader delivered daily right up front
- Friday uncertain.
- ES pivot 1940.75.. Holding above is bullish.
- Friday bias lower technically.
- Monthly outlook: bias higher.
- YM futures trader: no trade.
After two days of conflicting candles and indicators, it wasn't quite clear to me which way we were going on Thursday. Turns out the Dow went on another triple digit tear to break out of resistance around 16,625. Tonight we do another Night Owl Lite.The technicals
Market index futures: Tonight, all three futures are mixed at 12:57 AM EST with ES down 0.03%.
ES daily pivot: Tonight the ES daily pivot falls from 1916.92 to 1940.75. That still leaves ES above its new pivot so this indicator continues bullish.
Accuracy:
Month right wrong no call conditional batting Dow
average points
January 9 5 5 0 0.643 1433
February 8 3 4 3 0.786 1010
And the winner is...
Tonight we have no real bearish signs on the charts. True, the indicators are all overbought, but not extremely so. We also have both the Dow and SPX within striking distance of their upper BB's and I think they might want to take a peek at them. On the other hand, the futures have begun to sag in the overnight and I always worry they know something I don't. It might be a doji day, so I'm afraid I'm going to have to call Friday uncertain. I never like doing it two days in a row, but that's just the way it plays out. That's all she wrote. See you again Sunday night..
YM Futures Trader
No trade tonight.
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