Traders,
I hope you all had a great trading day.
No trades Monday! Slow session.
Let’s start with a brief recap, followed by a detailed plan with levels.
Session Recap (ES).
As per our daily plan, we were bullish on Emini futures above 6004-6008; bearish if offered below. The market was bid basically immediately when Sunday night globex opened for business above our 6004-6008 and effectively never looked back. A 70 handle rally ensued before RTH open, and another 30 handle rally ensued during RTH, a cumulative 100 points higher from 6004-6008. We did not trade globex nor RTH, due to the nature of the moves.
Below is how the market reacted once above our pivot, which is illustrated by the blue line(s).
I highly recommend joining the room now as prices are still lower than usual. They will be incrementally raised week to week to return to the normal price.
Spooz closed for business at 6092.
Market Structure.