Hope you are all well. A quick blog tonight as I am absolutely knackered. Well what a week completely boring and full of the odd nasty 5 minute red candles that just shafted everyone when no one was looking! Glad it is over and now we start earning season which is another shit fest that I do not like.
On the week I made money but it was tough to say the least. The ES has made a double top which has got all the bears wetting their lips. The key this week is 3K well in fact 2980 to 3K that is your chop zone and if we see any of these convert into support / resistance then likely we will see new highs or more of a retracement. If you want mke to toss a coin I would expect a retracement as one is due and seasonal October does give us some doward price action. Obviously as I say every week this is a pathetic news driven market so one tweet about the soybeans / china etc etc then everything goes up in smoke. I expect a retest in 3K and then downward price action to at least 2956 -2940 area.
ES WP 2998.5 same as last week levels above 3014,20,25,33,42, below 90,85,80,72,60,56,50,45,25
DOW WP 27,035 above 27171 27,383,27,544 below 26,832,798,662,540,425
NDX 7855. above 7900,10,50,8K below 800,775,60,50,700,7601
RUT WP 1567,81,90,94,600 below 50,45,31,21,10,500
Hope this helps have a good week and catch you on Twitter. TI