Buckle Up and Strap In!

Good Monday Morning, MPTraders!  February 10, 2025-- Pre-Market Update: Another Big Week of Earnings (see Calendar below), CPI, PPI (see Economic Calendar below), and, of course, the next round of Trump Administration trade, economic, and financial policy "shocks." Buckle up and strap in!

Despite concerns about a tit-for-tat trade war ratcheting up with today's anticipated reciprocal tariff announcement by the Trump Administration, ES is up 26 points (+0.4%) after a 109.25 point, 1.8% nosedive from Friday morning (after the Michigan U. inflation expectations survey) to Sunday eve's reopen. My attached Big Picture Daily Chart shows that for the fifth session since the 1/27/25 Deepseek spike low, ES traded below the 20 DMA, but reversed sharply above the 20 DMA, now at 6051 (see Red Arrows on my Chart).

For today's session, let's watch the price action versus the 20 DMA (6077 vs. 6051) on a CLOSING basis, as well as the overnight spike low at 6014 from an intraday key support perspective. On the upside, the resistance "magnet" above the market points to a run at Friday's high-zone from 6105 to 6120... Last is 6076.25