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Emini Pullback Today

Published 09/14/2017, 09:20 AM
Updated 07/09/2023, 06:31 AM
ESZ24
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Emini all-time high, awaiting FOMC interest rate announcement

Pre-Open market analysis


The Emini again was in a trading range yesterday, as it was for most of the past 3 days. It might continue sideways into next week’s FOMC announcement. Yet, the bears will scale into shorts at new all-time highs on the daily chart. This is because the 7 month rally has been in a broad channel. In addition, the bulls prefer to buy pullbacks than breakouts.

Overnight Emini Globex Trading


The Emini is down 7 points in the Globex market. Three consecutive bull trend days is a lot in a bull channel. Therefore the odds are that today will not be a bull trend day. Furthermore, the rally has been getting weaker over the past 3 days. This makes a bull trend day unlikely today. Consequently, today will probably be either a bear day or a trading range day.

Yesterday’s Setups

5-Miinute Emini S&P 500

Here are several reasonable stop entry setups from yesterday. I sometimes also show limit order entries and entries on the close of bars.

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