Quick SPX ES SPY Update 10/16
Reminder I'll post updated to trade setups in the AM via chat.
Today was a pretty wild day. We were bullish over ES 4365-69 and in particular after the Euros failed to fill the ES gap which is quite rare outside of a major new event that occurs while ES isn’t trading. Into the open we had 4375.25 as a key inflection point and it was never tested. There was zero interest below the open on today’s inside gap up and sellers were fully trapped. We had 80-82 to long off the initial stall at 4390 and the rest was history. We are currently trading in as 5-day balance and consolidating near the highs. As of now I see 2 potential 20+ point trades. Will we break out tomorrow? If so, what is the target?