Balancing day Wednesday as the markets try to decide what they want to do. A last period surge to just a single tick above the overnight high at 1984.50 left no excess on the high.
Does the ES extend above Wednesday’s high, targeting the unfilled gap from December 31st and 2013, or does it fail and fall below last weeks high at 1961?
Acceptance above the base Thursday’s spike at 1981.25 could bring in more buying, while trading below it would first target the prominent point of control at 1975.50, followed by Wednesday’s low and last week’s high at 1961. Trading below 1961 could bring in more selling as the market could try to repair the poor structure from Tuesday.
Share
Subscribe: