ES – inflection points for Mar. 20, 2017

Friday’s trades

Sell: 2392.50-2390.50
Keyline: 2378.50-2377.50
Buy: 2369.50-2370.50

The ES moved back and forth across Nat’s keyline for most of Friday, then sold off sharply going into the close.

The sell-off was mainly an attempt to move the price below 2375 for the Friday option settlement at 4:00 p.m. (EDT) and the price bounced a bit in the last few minutes of trading.

The price never approached Nat’s buy or sell levels — the market ran into intraday resistance around 2382 — and there were no good entries for overnight traders,

Subscribers to the live trade room had the opportunity to short the spikes to the 2382 area which returned decent gains.

Today’s workbook