ES Daily March 25 Levels

Here's some of the things I'm watching this AM before the open

At 12:11PM yesterday I noted we would likely see a pause in price as we approached the 5815-5821 zone.

We did pause.

Here’s what I said:

We went from a 5825 high to a low of 5802 this AM.

A mild pullback.

The last 3 hours have been up higher into the inflection point zone however.

You can see the same chart here:

As we move higher in the zone, we note higher highs in price and momentum stalling. This is what happens after such a run, momentum can’t keep up and we have pullbacks and consolidations.

While pauses before/in the level are typically continuation patterns….

I think we’re going to see a selloff today early to give us opportunity to add to our longs.

I really would like to see selling pressure push us below 5800.

Couple key points on positions:

#1 We hold a runner a 20% from Friday 5651, we talked about this level and trade extensively here in Friday’s newsletter. Targets were all hit before 10AM Friday and I’ve not made a trade since. This stop is moved to 5767 this AM.

#2 We hold 10% runners from March 14 at 5625 (ESH25 rollover’s). These stops are moved to 5732 this AM.

#3 No new trades Sunday, Monday or this AM

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Let’s get to opportunities