The whipsaw attacked the ES again yesterday. The futures failed to breakout 2167 level and turned around to go down sharply. This could result from end of month rebalance from Fund managers, but also could be from option game.

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This section contains the specific buy/sell levels for Friday. 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 stay under the 2155 level, which is option meanline. As long as ES stays under it, price could go down to around 2135-30 to search for support.

If there is a move above 2155 level, ES could go back to yesterday’s high area 2167. But ES should not close above 2165 level. The end of month closing price is likely to be around 2150-55 zone or lower.

Daily PMO indicator turned back down again yesterday. It follows the daily price to whipsaw. This confirms ES shouldn’t go anywhere until election is done.

Outlook

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
Major resistance levels: 2175-78.50, 2086-88, 2195-96, 2103-05.50

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