Trading plan for Jan. 1, 2015

141230-ES-daily

ESH5 Daily chart

Today is the last trading day of 2014. ES has to make a decision where it should close. Especially for the SP500 cash index, the closing price will give a hint which direction it will head in the coming week.

Based on Dec 31 option expiration, the SP500 index could close between 2075-70 zone if it can manage to hold up 2070 today. The 2070 level is equal to ES 2065-68.50 area, which is the level where our big boys left for the holiday on Dec 19.

We wish all of our members a happy New Year and prosperity and good health in 2015.

Short-term === Bullish
MEDIUM TERM === Bullish
LONG-TERM === Bullish

Major resistance lines: none
Major support line: 2056-54.50, 2043-42.50, 2035-32.50, 2025-23.25