The ES tested near last weeks and the year high of 2914.75 but with the poor reaction to GS results, energy weakness brought in selling. The ES filled the open gap and prior high of 2900 to bounce back in the afternoon. The NQ dropped to 7598.75 with weakness off the bat in semis and FANG. By the end of the day FANG held up well and closed well. These stocks are the key to next leg in my view. They are off their all time highs and have room to test above. If they get going the NQ could see higher targets being met. IWM broke the 157 area, but ultimate closed above.
stephenbalsam 1 Minute
Published by stephenbalsam
I have been trading electronic emini futures since they started . I have trained 100s in the method I use. This blog is just informational purposes and TRADE at your OWN risk! View all posts by stephenbalsam