ES! - stuck in a range 4415-4272
- After huge sell-off market seems to be digesting the earnings and reasonably stuck in a range.
- Good thing is we have clear levels to trade
- Bad news is for those who shorted at the recent lows...or day traders who expected more volatility to continue.
- best course is to wait for the direction either way before making a move.
- trend is down, and with no signs of higher high, we go lower..way lower. Which remains a big risk to be long at these levels, so better to be positioned short with smaller size.