Bad News Remains a BTD Opportunity

ES-- heading into the PM session, looks like the inability of the bears to gain any downside traction after yesterday's Cohen testimony, the "failure" of the Trump-Kim (Xi?) Summit, and possible perceptions that the Powell Fed overreacted in January has triggered buying and short-covering that has propelled ES to a challenge of important resistance lodged between 2797 and 2803.50. If 2803.50 is taken out and sustained, then ES will head directly to retest Monday's high at 2814.00, in route to 2820/30.

A 10th consecutive one-way Friday ahead? Last is 2792.50

2 28 ES 1 GIF
2 28 ES 1 GIF
  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!