ES Morning Update May 10th 2023

Another sideways day on Tuesday, but today we should see a move up. I still lean toward it just being up to the FP and that’s about it. Afterwards I think we pullback again back into this 4150′s zone. I just don’t see anything to support a breakout yet.

Today could be a “dud day” where it doesn’t have any big reaction move but instead it slowly climbs up to the FP and the pulls back into the close to keep both sides puzzled as to what the really next move is.

Everything still suggest we will go down again into mid-late May, so the bottom line here is that I’ll be looking for another short entry after exiting mine yesterday. I was trying to take a small long but never got filled. Oh well… it is fate I guess. Now I see this morning I could have a better entry, but I think I’ll pass and just watch as I feel like trying to catch this move up is like picking up pennies in front of a steam roller.  I’d rather wait for the quarters to show up.

Have a blessed day.