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ES 5-22-19


In the process of making a second video.....options are only pricing in a 7.5 pt move as one standard deviation this morning....here are basic areas so far and my plan...starting small shorts in overnight at 84 even....looking to get back to 80 - 82 zone
No video below? Try this link: monday.swf








some repetition but the bottom line for me is I will not be long this market early on if the midpoint of the overnight hasn't been tested. ....the best short areas to sell frm will be the 84 - 85 and then the 89.75 - 91 area...and watch the 74 - 75 on the downside if / when we retest that
No video below? Try this link: monday_part_2.swf









here is hard copy...not much to say on weekly so didn't expand...remember options have 2388 area as a one SD move today so that adds some confluence to that zone up there
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daysession
both Ym and Es are trying to rally up after dropping down to their r1 levels.......what a slow creeper this is!
I'm abandoning my plan to get short if/ when all these tops get broken.....for two reasons 1) it's too late in the day and 2 ) we had a selloff friday afternoon so I don't look for many things to repeat in the market....so expecting another selloff this late would go against probabilities for me....My calls sold are under water and will evaluate them tomorrow