ES Bulls Taking No Prisoners
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S&P 500 proceeded without looking back, and the improvement in advance-decline line approaching 2000 is but one illustration. Having counted on some modest momentum continuation, I‘m glad I brought you fifth profitable intraday ES call in a row.
Today‘s analysis will be very brief, and I would cover stocks and other markets too on Twitter live, before and throughout FOMC.
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Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 5 of them.
S&P 500 and Nasdaq Outlook
With PPI underperforming, the bets on Jun no hike Fed got clearer than after yesterday‘s CPI. Backing and filling around 4,410 in Sep ES contract is most likely – I‘ll keep updating you live on the moves throughout the day.
Best visual manifestation of broadening breadth that won‘t be likely broken very fast. Cautious about FOMC hawkish language turbulence – I‘ll again be updating you live.
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