Historically, the first day of March has been Bullish. On top of that, last week closed on a bullish note, with Buyers clearly in control. The obvious expectation is continuation to the upside. The upper price target for tomorrow is 1113. On the flip side, if price starts heading lower, we have to observe whether Responsive Buyers are stepping in and adding to their Long positions; or liquidating. My Bull/Bear Line in the Sand is 1095, which also happens to be the downside target if price begins heading lower. Anticipating 1095 to hold tomorrow. In the event that price breaks below 1095 on heavy volume, we could see heavier liquidation by the Buyers, and Initiative activity by the Sellers -- in which case, 1087.50 and 1084.50 would be the Key Levels to watch. Good luck, and best trading!
Econ Data
Personal Income and Outlays at 7:30 AM (cst), ISM Mfg Index and Construction Spending at 9:00 AM (cst).
ES - Daily Chart with Volume Profile and Key Levels
Thanks for the great post. Always enjoy your work
ReplyDeleteHi
ReplyDeleteIt will good if you can post a MP chart for /DX (Dollar) and if possible important support and resistance levels because /ES, /6E and /CL everything moves according to what dollar is performing.
Appreciate all your hard work. Your charts are very helpful in trading
Thanks
Manoj Gattani
manojgattani@yahoo.com