When to Short the Market
Below is a chart of the last few days of the S&Ps (ES). It is a 27,000 Tick Chart. This is just a higher time frame version of what I generally use during the trading day. It is similar to a 45-minute to 60-minute standard chart, depending on the activity. It is a good one with which to view the “bigger picture.”
We discussed last night the effort vs result in yesterday’s overnight market and then the UT and supply that came in yesterday and how the trading range was unlikely to hold support. Well, here it is. Note that we broke the 1177–78 level, that has served as recent support. Lower prices are now likely. Watch for a weak rally to short.