ES Vulnerable to Further Weakness

ES-- was unable to recover above its 20 DMA at 2741.60, which means that the price structure pierced and closed below the mid-point between the Upper and Lower BBnds-- often a signal that ES will continue to the downside towards a probe of the Lower BBnd, now at 2638. Should such a scenario unfold, ES is vulnerable to further weakness of about 3.2% from today's close...

No rest for the weary. To take some of our minds off of the markets for a couple of hours, we get to "enjoy" Monday Night football between the Giants and the 49ers, two of the three worst teams in the NFL.

Have a great evening everyone... We will reconvene early tomorrow morning... MJP

11 12 18 ES Close 415 GIF
11 12 18 ES Close 415 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!