Hello Everyone,
Quick Notes: The major indices all closed higher today led by IWM (small caps) with today's breadth readings the best since November 1st (you tend to get inflows on either the first or second day of the month). This year 9 times on the first day and 3 times on the second day of the month.
Yesterday I posted ES support in the 4480s and it bottomed just above that at 4497. Today, it rallied up over 80 points clearing the first resistance at 4465 and then moving into the next zone 4590-4610 where it stalled in the afternoon. For the bulls, they would like to see price now remain above 4550s (support) and work higher above 4610. With the charts so loose (broken), it's hard to find many true objective setups with price still below supply. However, I will hand scan through the charts tonight and post anything relevant.
Reminder tomorrow we have the Monthly Payroll report.
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.
