Currently: Short Looking to: Cover @ 2,462.50
As of 9/22/19 @ 11:00pm EST: 3,000.75
LAST WEEK: We suggested shorting near 3,000 with stops honored on a weekly close above 3,024 and with a target of 2,462.50.
UPDATE: There was plenty of movement in both directions last week with wild rotations into various market capitalizations, asset classes and geographic regions by quick-trading computer programs. All of that movement has netted a big nothing on a week-over-week basis.
We are seeing ES futures hover just below key 3,024 weekly resistance. They still appear to us to be destined for a sizeable move lower perhaps towards 2,462 2,480.
We would continue to sell / short ES futures between 3000 and 3,024 with stops honored on a weekly close above 3,025 and with a downside target of 2,462.50.