AND, we can report there is NO CHANGE in the outlook for tomorrow. A hold on the support, look for attempt on the 61 area. The outlook is still Bullish. But, to the bears credit, the calculation for a sell off can not be ignored.
As with today, look for the breaks and the 50CB's. A 50CB untested develops a continuation and we stay long to the + side of the TL, and short to the - side of the TL.
How it developed this week:
[07:29] <CM> es today 47.75-45.25-42.75 swing short +4 long +5 1652-1638
[22:24] <CM> PA pushed above target on a 50CB around noon current 50CB holding (approx 52.75) upside target 61.5-61.75 support is in the 50CB zone 50.75-52.75 a break likely looks for 48-47.75
[07:04] <CM> no chg from the 22:24 post targets
Today: [14:36] <CM> "no chg from prior" and PA hits the swing points 48-61 again
We had a trading range and swing targets develop. As stated, the bear calculation was reasonable and not to be ignored. This week we played in the 50CB zone of 50.75-52.75 with outer swing targets of 61.75 and 47.75. Normally, a wide range that would raise eyebrows of doubt. But the week played to our delight as bot extremes were hit with range runs to the opposite target.
Range Run
Double high at upper target
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