ES – inflection points for Apr. 19, 2017

Yesterday’s trades

ESM7. Apr. 18, 2017. 30-minute bars.

Sell: 2354.00-2356.00
Keyline: 2345.50-2346.50
Buy: 2329.50-2328.25

There were great trading opportunities in the ES Tuesday.

For overnight traders, the market dropped from Nat’s keyline (and also the previous close) overnight then retraced almost the entire decline after the day session open, only to drop back within a point or so of her buy level.

It then retraced about two-thirds of the move and closed at 2337.50, a close-to-close decline of about 8 points, while the intraday movement was more than three times that amount.

There were many good trades for trade room subscribers, but overnight traders most likely got the move from the keyline to the buy level, worth about $700 per contract, or held until the market closed, a move worth about half as much.

Today’s workbook