The es topped out at the 2830-2 area to test the lows 2789.5 and held bottoming at 2791.75 and bouncing from there to a high 2816.25. The NQ tested and took out the weekly low of 7290 and dropped to 7276 and bounced from there to a high of 7349.25. The retracements were posted yesterday to see where the res came from. So far this morning the es and nq have been choppy. Number soon!! Well that was a non- event.
Im expecting more back n forth trading so res and support are key.
ES LEVELS
2835 – pivot high
2830-2 – yest high
2815-16.5 overnight high and afternoon high fib
2795 – overnight low
2791.75 – weekly low
2789.5 key pivot
NQ LEVELS
7447.5 PIVOT HIGH
7404.75 – YH
7346-49.5 – afternoon and overnight high
7289.5 overnight low ( prior pivot)
7276 – weekly low – yl
WILL ADD LEVELS DURING THE DAY
TELLS
IWM – did not break lower. watching 149.98 yl and high pf 152.51. mid day high 151.86
XLF – financials did NOT make a new low bottoming at 25.3 above 25.08 low. 25.6 YH AND ABOVE IS RES 25.89-91.
XLE – energy did not make a new low. Bottomed at 65.45 filling downside GAP AND ABOVE 64.87 low. Crude topped out so far at 60.38 watching 58.15 area for support.
SMH- the pain was here. Made a new low of 104.12 and has been down 4 days.
XLK – pain here as well. Bottoming at 72.34 res 74.11. 21 DAY SUPPORT 72.08 JUST BELOW.
IBB- bios held the 106.98 low bottoming at 107.77 the 200 day area of 111.5 ish is res.
XRT – poppin out of downtrend – was strong.
XHB – builders trading very well and strong 39.54 is res with support at 38.37.
IYT – also holding up yesterday lets see if that continues well above 179.55 low. Res is 185.23.
XLU – been a monster reversed from strength yesterday
AAPL – held in with an inside day. 192.88 AND 184.58 are the levels.
GOOD LUCK AND STAY FLEXIBLE
BalsamTrades 