Trading plan for April 14, 2016

160413-ES-daily

ESM6 April 13, 2016. Daily chart.

ES broke the April 4th high at 2071.50 level yesterday and closed above it. The price action was bullish; it is clear signal that ES intends to test the Nov/Dec 2015 monthly high. But the volume still was lighter.

The SP500 cash index April option will expire today. The bullish sentiment could help to hold the ES above the 2050 level. Any pullback is likely to be bought.

The PMO and SST indicators are bullish in the short term.

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