ES gapped down at the open and held price down throughout the day. The price action was bearish, and Daily PMO indicator returns to the downside to eliminate a potential buy sign.
This section contains the specific buy/sell levels for Tuesday. It is reserved for Nat’s Daily and Full Access members. Previous trading plans are available free of charge in the archives.
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Today ES could continue moving down if the Presidential debate disturbs the buyers overnight . ES could easily go back down to last week’s low area 2127-25 for testing before the price bounces again.
A break below 2120 level will be bearish again. A further decline towards 2100-03 level should then be expected.
2150-55 will be current major resistance. As long as ES stays under it, odds will favor downside.
Short-term === Neutral
MEDIUM TERM === Neutral
LONG-TERM === Bullish
Support and resistance
Major support levels: 2128.75-29.50, 2123.50-21.50, 2112-10.50, 2103-01.25
Major resistance levels: 2165.50-64, 2175-78.50, 2086-88, 2195-96, 2103-05.50