Now that ES1051 area was achieved (as well as TF 584, see chart below) we can expect a bottoming and ST rally which , if respect AH lows MAY WELL reach ES 1075-1080 aera. Furthermore, we have to be prepared for an extended and furious rally even above that area... do you think is not possible? all I can say is BE READY to trade it:)
Well ,bears had its day finally. The ferocity of this selloff exceeded our expectations but is that very steep cahracter it showed wich makes it also due for a imminet pullback ST.
Even most indices and its correponding futures did make a lower low today there is one interesting exception (Nasdaq 100 future) who can very well lead us through the upcoming bounce given its relative strength. (TEchs usually lag when a down move accelerates).
As usual we expect other indices and securities to follow but we present this one because is quite clear:
IN a nutshell this is the game plan for tomorrow (same view as above but using RUSSELL 2000 future to draw the complete setup)
But if ES opens lower and/or VIX open above yesterday highs, be ready for a blood bath from the get go.
