Equities are currently rebounding from this morning’s quick selloff on the European open due to concerns of a new virus strain as the world sees another uptick in COVID cases. This has overshadowed the US futures markets rally last night after Congress finally reported an agreement on the delayed stimulus deal. This price action seems very similar to what we have seen time and time again in 2020 so I expect this rebound will continue higher. Once the noise gets shaken off the equity markets continue to show strength. Due to my technical levels presented in my charts below, I recommend the following:
BUY ESH21 @ 3670.00 or @ Market
SELL STOP @ 3648.00 ($1,100 risk per contract) = Under 5MIN Support Level
SELL LIMIT @ 3710.00 ($2,000 profit per contract) = Above 30MIN Point of Control (POC) / Under Recent High
The MICRO contract is 1/10th exposure per contract.
*Risk/reward are calculated before commissions and fees*
Call me if you need assistance with executing this trade – 312-706-7639.
5 MIN ES – Bullish TAS Vega/Ratio/Navigator = BUY
30 MIN ES – Bullish TAS Vega & Positive Ratio = BUY
Jace Jarboe | Futures & Options Broker:
Phone: 312-706-7639
Email: jjarboe@danielstrading.com
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