The Line in The Sand
Well this was an eventful week. Politics aside ES has sold off now 5 days in a row and sits right on top of the +1.5 std deviation of the yearly vwap.
Obviously I am leaning for towards a technical bounce before more selling but just in case we don't I am eyeing the 4341.50-4371.50 yellow area for a larger bounce. As time goes on that +1 std deviation will move up into that area as well.
If we get upside here I would look to the half back of this sell off which is funny enough around 4500.
Looking forward to seeing what happens here into the end of the year!
Obviously I am leaning for towards a technical bounce before more selling but just in case we don't I am eyeing the 4341.50-4371.50 yellow area for a larger bounce. As time goes on that +1 std deviation will move up into that area as well.
If we get upside here I would look to the half back of this sell off which is funny enough around 4500.
Looking forward to seeing what happens here into the end of the year!
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