Trading plan for Sept. 23, 2016

160922-es-daily

ESZ6 Sept. 22, 2016. Daily chart.

ES gapped up at the open and held on to its gains throughout the day. The price action remained bullish yesterday, but the volume was reduced on the second day’s rally

Member content

[MM_Member_Decision membershipId=’!(3|4|5)’]

This section contains the detailed buy/sell levels for Friday. It is reserved for Daily and Full Access members only. Previous posts are available free of charge in the archives.

Want more?

You can get instant access to these valuable daily updates through Nat’s upper level memberships. please follow this link for the details.

[/MM_Member_Decision] [MM_Member_Decision membershipId='(3|4|5)’]

Hi [MM_Member_Data name=’firstname’]. Read or download the full trading plan here:

[gview file=”https://www.naturus.com/wp-content/uploads/2016/09/160923-ES-plan.pdf”]

 

Today we may see an exhaustion move. ES could stall around 2185 and reverse.

Daily PMO indicator still didn’t give a buying signal. Slow STO indicator approaches overbought territory. If ES manages to hold below the 2185 line, price could reverse to do its back-fill in the 2152.75 area.

Today traders should focus on the short side on a rally in the early sessions, and buy later in the afternoon. If 2160.50-59.50 is broken, ES could dip into 2152.75, where we can see the dip buyers coming in.

Outlook

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

Support and resistance

Major support levels: 2131.75-33.50, 2123.50-21.50, 2103-01.25, 2091.50-93.50
Major resistance levels: 2175-78.50, 2086-88, 2195-96, 2103-05.50

[/MM_Member_Decision]

Comments are closed.