Below is a sample daily report posted for members before the market open on Jan 13, 2022. We publish our daily analysis before the market open every trading day and we send live trade alerts and market updates via our apps throughout the day.
Futures were generally weak until London’s open, after which ES bounced back to 4720 area. 4735 is a key pivot for today as well as for short term. Many index and major components are broken , suggesting a downside reversal here
ES is currently trading at 4725, up 9 from yesterdays close
- Opening range resistance is 4722-4725, opening range support is 4708-4711
- Yesterdays range was 44.5, Tuesdays range was 80.25 and Mondays range was 100.25. It is obvious that the index is compressing as it bumps against this resistance zone, this suggests we will see a range expansion today. ES range so far is 26.75. I think we may still have at least 50 handles left for the day which may be to the downside
- A break above 4725 may cause a pop upto 4735 but don’t expect follow through. A break below 4708-4711 may be the trigger for a move to 4670 or lower
Charts to consider:
NQ daily, testing the broken uptrend line, it will likely reverse lower from here
close-up
NDX-5 daily, its testing the broken uptrend line like NDX
NYSE FANG+ daily
RTY daily, already drifting towards the support line again, this index will likely crater before others. Next time this index takes out the support line, it will likely be the beginning of something big for the whole market.
RTY 230m
EMD midcap e-mini daily
ES 230m reversed from the resistance line yesterday
SPY daily, closed right at the resistance line
Stay tuned to our channel as we may open new positions today