The June E-mini S&P 500 is rebounding this morning following weakness to start the week off the past 2 trading sessions. I find this bounce higher on bullish momentum as reassuring to my current view. TAS Navigator and TAS Ratio now confirm with the TAS Vega breakout higher seen below on my chart. In agreement to my longer-term bullish view on equities, I think this is a good opportunity to front-run a new potential test of the All-Time Highs in this market. I recommend the following:
BUY ESM21 @ 4140.00 or Better
SELL STOP @ 4110.00 ($1,500 risk per contract) = Under Today’s Low and 4-Hour Support
SELL LIMIT = 4200.00 ($3,000 profit per contract)
The MICRO contract is 1/10th exposure per contract = $150 risk / $300 profit per micro contract
*Risk/reward are calculated before commissions and fees*
30 MIN ES – Bullish Navigator & Ratio Now Agreeing with Breakout in Vega = BUY
4-Hour ES – TAS Ratio Crossing Over and Risking Down to Under Support @ 4116
Jace Jarboe | Futures & Options Broker:
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