E-Mini S&P 500 Futures Review/Analysis
So the first move above 1150 got sold into; what a surprise (sarcasm). Price bounced ahead of the Overnight Support Level (1141.75), and was well accepted in the 1143.50-1146 area, closing above VWAP, Previous Close and the Day Session Midpoint. Aside from the overbought conditions, I'm not seeing any signs of weakness and price could very well continue moving north into next week. I'm open to a 2-3% pullback, but also can't close my mind to upside continuation. As day traders, we have to be prepared to take advantage of price movement in either direction. Have a great weekend!
ES 5-Minute Chart
ES 30-Min Volume Profile Chart
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