CheelooTrader

ES - Logical area for shorts to step back

CME_MINI:ES1!   Futures E-mini S&P 500
  • 200 DMA on 3D chart near 3840 should offer solid support could squeeze, but given how intense selling has been, I don't think the bottom in yet. One more R2G capitulation move below 3840 is what I think would take for a real relied rally.
  • Growth names started selling before the indices did, and now select a few growth names are showing strength, so I'd watch for follow through before Index catches up.
  • target 4020/30 on the current move, pullback and retest of the lows around 3860.

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