Morning Insight - ES

7/29/2024 - Tuesday

Good Morning Traders,

As predicted on Friday and Monday we spoke strongly about the 5532 Significant daily. If we can not pop the 5532 area we can not progress forward. Yesterday we touched it once again which caused the 4hr to be unable to gain support which led us back down to the magical significant 4hr mentioned in the Monday AM Outlook at 5481. This level played 2x yesterday once in RTH and once in the overnight. This level is clearly our line in the sand to the downside and should be monitored as such. The overnight pop off this level pushed us back up over night so we are opening directly in YDAYs range and Value Area, which could signal to us that we will have another balance day ahead.

Todays Action could really go either way so check out the video below to go in depth on which levels we should be monitoring for progression.

Cheers and safe Trading

Ryan Bailey

NEWS: EST

Options VOL:

Cheat Sheet:

Morning Outlook: