Welcome to the Traderfy Trend for Aug 11, 2015.
After a sharp upmove yesterday, today we find the $ES_F riding the line between up and down trend. I will be watching closely into the opening bell for the potential resumption of yesterday’s bullishness. Also worthy of note is the price wedge shown on the $ES_F daily chart that we discussed here: The trend of daily $ES_F is still bullish. Click each image to expand.
In the early hours this morning we saw crude oil futures, $CL_F, spike into the three day rolling high only to be rejected at that price. The subsequent move has flipped into a down auction and is, as of this writing, finding support at the rolling S1.
Have a great trading day and be sure to follow us on Twitter at: @Traderfy