On the 60-minute chart above, the ES Futures is trying to decide if it wants to stay above or below the 1390 level. The market is currently attracting some bulls as it lifts off of a double bottom formation. However, the market is also stalling as it starts to test all-time highs.
The month of May in the last 5 years is a mixed bag. 2 of the last 5 years were a bullish May, and 3 of the last 5 years were a bearish May.
Charles
Noticed you are not posting as much recently. Hoping all is well.
ReplyDeleteJohn
I just found myself saying the same things over and over again. I've been doing more writing and posting in my Health and Fitness blog.
ReplyDeleteI trade mostly in the morning, and I now use the 10, 5 and 1 minute charts for momentum direction. A strategy similar to John Carter's TTM squeeze and trend indications.
Charles