Morning Es Trading

Tuesday's Market Review

In Tuesday's opener, I opined that the Es needed to trade higher (above 1500), but this had nothing to do with me being bullish, and everything to do with my observation that the current high was of poor quality. To be clear, I like to see established support and/or resistance tested, and either accepted or rejected. The fact that the Es contract continued to test the 1498-1499 area without an upside probe (culminating in either acceptance or rejection), led me to believe that such a probe was forthcoming. I obviously would have preferred to see a violent rejection from near 1504.50, but that wasn't in the cards, as traders remain more fearful of beginning each day with too little exposure, rather than too much....728 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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