6.22.2020 AM

$ES_F (daily) We had the bearish close on friday once again holding below short term descending channel. I remain bearish until proven otherwise and will look to short on rallies.

$ES_F had a nice move -40 point move down after 3067 support breakdown. I mentioned it was a big level on friday.. however the big move happened in the overnight session and rallied all the way back up to the channel resistance that we broke above temporarily on friday.

$ES_F 1H Important for the bears that we stay below the daily channel. Which we rejected overnight. This is all bearish consolidation until proven otherwise.

$ES_F 10min

Fortunately for us we took profits in our puts on friday with big winners in $AAPL and $SPY. Reminder: its ok not to trade everyday. Be selective and only trade when you are comfortable. It easy to give back and go on a losing streak that can easily wipe away a weeks or months gain.

This is a very difficult and unpredictable trading environment… I would have never imagined a green open on monday (ES currently +25) with the technical breakdown along with COVID19 outbreaks. This is why we have to always take it one trade at a time and cannot remain overly bias or dependent on news.

PS if you decide to cancel membership by canceling reocurring charge, you are free to stay till your one month is up. But its extra manual work for me, and you wont be allowed in the telegram as thats just too much for me to keep track of. So if you want to take advantage of that, wait till the end of the month to cancel.