Trading plan for April 4, 2016

160331-ES-daily

ESM6 Mar. 31, 2016. Daily chart.

ES continues to bump up against resistance when the PMO is overstretched. The end of month bullishness helps to hold the rice up even though the price has ab extremely overbought condition in the short term.

Today is first day of April. Based on the bullish end and beginning of month behavior the ES should have a positive day. But NFP report also will influence the market and could lead the price to have a bump and dump move with relatively larger range than in the prior day.

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