here's a picture of the 30yr bonds:
There is a significant weekly VPOC and uptrend line providing the bonds w/ support.
ES will likely chop around sideways until this support in the bonds is broken. (30yr bonds and ES move inversely to each other)
key numbers today for ES:
1030 - 1032: YDay's O/N hi and today's pre-NFP hi
1022 - gap fill (should be support at least initially)
1017-1018: signifiant support from yesterday's reaction
since we couldn't close above 1026 yesterday, the reversal action yesterday is suspect, and sellers will want to test that today.
DA
DavidS
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End of day. Note how the 50 ma was still downtrending in that lift. Note the piercing at the top of the bands.
I guess the larger timeframes are most important and I trade inside their context using the smaller timeframes. Like boats, always give the right of way to the larger vessel vessel that is slower to change course.
I guess the larger timeframes are most important and I trade inside their context using the smaller timeframes. Like boats, always give the right of way to the larger vessel vessel that is slower to change course.

