There is a lot of correlated congestion doing the rounds at the moment, therefore quality technical setups are relatively scarce until the overall market figures out where it wants to go.
On a bullish note, today has confirmed yesterdays morning star formation on the ES daily which points northwards. However, I feel the main market currents are to the downside, and would be looking to scale short into stocks when the ES is in the 1215 range. Swing for the singles until a breakout occurs, this market could rip or dip at any moment on economic news/resolution.
The AA trade is my hands-down favourite. Both on a short/medium term setup and as a long-term investment holding.
Advertisement
