Hello Everyone,

Here's a link to Tonight's Newsletter.

Quick Notes:  The major indices all rebounded today led by the QQQ as it bounced nicely after a symmetrical a-b-c decline. For now, the SPX and QQQ remain below their respective 9 day EMAs so the onus remains on the bulls.  The bulls would like to see ES hold around support 4325-35 area overnight and then press above today's highs.  At today's highs the RSI 5 on the 60-240 minute charts was very stretched which unwound some with the late day pullback so the bulls need to step in again tomorrow to avoid another downside probe. ES has been trading in a range between 4270-4360 lately and this will like give way on the next attempt.  

 Note: Several previous ideas on watchlist remain valid but simply have not yet triggered so continue to re-examine each night.  Consider making a fresh top 10-12 setups  each night and put on front page along with existing trades.  My advice is to keep your total ideas to a manageable number.  Lastly, it's best to wait at times for valid setups to form - sometimes less is more.

Please take a moment to look at the trade ideas.

Providing high quality market analysis with an emphasis on technicals education since 2003.

3309 Drysdale Court
Edwardsville, Illinois 62025