So far today there market has completely capitulated to the upside. The SPX is right near the all time high of 2940. I have longer term targets of 3100, but as a trader its not that meaningful. The NDX is the clear winner as it is making new all time highs on daily basis it seems. The NDX is getting very overbought on daily with an RSI at 80 and at the bollinger band high. I will be expecting a very good contra trade set up in the NQ this week, but with FB and others reporting it might be from higher prices. The ES is just starting its move and with healthcare catching a bid I am less excited about any contra trade in there. The price action does suggest to me that we will have a melt up and I fully plan on participating if that occurs and definitely on the back side of that as well. This should be fun!
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