Actionable ideas for the busy trader delivered daily right up front
- Wednesday lower.
- ES pivot 2039.58. Waiting to see which way it breaks.
- Rest of week bias lower technically.
- Monthly outlook: bias higher.
- YM futures trader: no trade.
|"The Koran - it doesn't stop bullets"|
Tonight I am once again overwhelmed with the burdens of ordinary existence so it's another Night Owl Lite night. No detailed charts, just the results.
Market index futures: Tonight, all three futures are lower at 12:48 AM EDT with ES down 0.11%.
ES daily pivot: Tonight the ES daily pivot ticks up from 2039.42 to 2039.58. That leaves ES sitting virtually on top of its new pivot so this indicator tonight has no predictive power. It will all depend on whether it falls through or bounces off by morning.
Month right wrong no call conditional batting Dow
January 9 5 5 0 0.643 1433
February 9 3 5 3 0.800 1133
March 5 4 5 1 0.600 103
And the winner is...
With a rising VIX, dojis in the Dow and ES on Tuesday moving lower and confirming Monday's reversal signs, and the new overnight guiding lower, I'm going to go out on a limb and call Wednesday lower.
YM Futures Trader
No trade tonight..