ES – inflection points for Mar. 24, 2017

Yesterday’s trades

ESM7, Mar. 23, 2017. 30-minute bars.

Sell: 2362.50-2364.50
Keyline: 2356.25-2355.50
Buy: 2328.50-2330.50

All three of Nat’s markets had essentially the same trade yesterday. The price wobbled along Nat’s keyline for some time before dropping during the day session.

In all three cases the price failed to reach her Buy level, but the exit at the close still gave a decent profit.

For the ES, the price stayed below the keyline until after the day session opened, then fell from that intraday resistance level as the market became convinced that healthcare legislation and the tax cuts that are tied to it are stalled.

There was a spurt of buyside volume near the close, but while if prevented the market from falling further it couldn’t move it back up. There was buying on the dips, but it didn’t move the price.


Today’s workbook

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