Morning Outlook - ES / SPX

8/8/2024 - Wednesday

Aug 08, 2024

Good Morning Traders!

We had a massive selloff yesterday from our level called out in the AM outlook at 5352 that produced over 130 points to the downside. The selling was so fierce that they continued to sell off after the bell and slightly into globex. NOW they didn’t quite hit our leg end target of 5160 but the got close AND they held our significant 4hr support and have W bottomed out as we rallied hard on the Unemployment news this Morning. Will the rally be sustainable or are we just popping to drop again. Well thats a tuff call but we are infact looking for lower after a potential push higher so money can be made both ways today. Check out the levels in the video to see how you want to play it. Have a great trading day today and stay safe

Cheers
Ryan Bailey

Conquer the Markets Trading Plan

Discussion about this post