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ES Wednesday 7-12-17


Will this be the gap up and go day ? I don't know but I will be watching last weeks highs closely for clues this morning. I have two upper areas and those are 2434 and then 2436.50- 2437.75 ...Ideal targets if shorts are going to work will be 2432 and then a more important area at 2428 - 2429 this is where overnight volume really kicked off to the upside. If we get a close on the first 30 minute time frame above last weeks highs then I will sell calls with the expectation that we will come back to revisit last weeks highs in some other time period...basically u want to watch and see if they can put in multiple tpo's at last weeks highs...

In this volatility trades off the upper zone should target that 2434 number and then maybe try to hold for lower if u have runners. I will edit with key Ym numbers in a minute

EDIT YM key upside 21453, 21470 and then above that is 21482.....if sellers step in then on downside watch 21420- 21428 as a key zone


good luck today..we may need it
the calls I sold earlier...I haven't covered them but they were up $260 at one time.....I feel like I may regret not taking these off when I had the profit
Click image for original size
calls