Trading plan for July 14, 2015

150713-ES-dailyUS stock markets exploded on news that Greece and its creditors have have made a deal that may result in Greece staying in the Eurozone without formally defaulting on its debt. The ES surged by more than 40 points and closed above all its daily momentum resistance levels.

Now the 2050 level returns as the major short-term support level. As long as ES stays above it, odds favor the upside. At the least, ES will challenge the 2100 psychological resistance level again.

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Here is the member content for Tuesday July 14. Download the full trading plan here: 150714-plan

Today we may see a continuation high move after a brief early pullback. 2082-84 will be first the support and 2070-68 will be the next support below it. 2104-05 will be first resistance level. If ES goes up first, it could reverse from the first resistance level to yesterday’s low for testing. But if ES goes down first, price could move back up as soon as it finds support. We will continue to see “Buy the Dip” moves.

Short-term — Bullish
MEDIUM TERM — Bullish
LONG-TERM — Bullish

The major support levels: 2054-52, 2038-39, 2028-30
the major resistance levels: 2093.75-95.50, 2108-12.50, 2118.50-21.75

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