Did you enjoy last week? Played out nicely didn’t it: up leg into FOMC that hit Resistance (“pull back” in a downtrend) and reversed. So now what? Welllllll.
We’ve got to ride out the cyclical down swing – “pull back” to “end of trend”. And we’re playing slap dang into a Seasonal Trade setup – the “September Effect”. Which means weakness ahead.
Only question (for me, at least) is whether we float back up into another cyclical Resistance on 40,500 tick chart and just fade away from that. Or we get going Sunday night into Monday. 1,940 (Friday’s Low) on the Emini is the critical level.
But don’t listen to me – do your own analysis. And take the trade setups – this is no time for hunches or guesses.
Good luck with your Emini trading this week.