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Today was pretty awkward on ES because of the location of the gap up. Anything above, say 6500, is difficult because it has objectively been a sell for 4 weeks but each time above there could finally be a breakout. The “final boss” on NQ (869-885) did its thing which capped the ES upside a bit.
I took a long in the Discord on the sweep of the IB low and overnight pullback low (6493.75). I did a video explaining the trade as it covered a number of key concepts and have decided I may share it more broadly. I’ll get that posted tonight or tomorrow.
Today was an inside day which is objectively neutral, but sellers certainly have not (yet) shown any interest in follow through after Friday. As mentioned above, this is a tricky area trying to decide if this is a breakout in progress or just an opportunity to short. In theory tomorrow should trade rather straightforward ahead of PPI and CPI Wednesday and Thursday.
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