Both the ES and the NQ hit Fibonacci resistance, and both rejected those levels and declined strongly off of them. GOOGL and TSLA reported after the close today and while both "beat" estimates, it wasn't enough to offset the selling that eventually knock both stocks down. TSLA getting hit harder after earnings. This in turn has pulled both the futures markets gapping lower on the Globex opening. I discuss the strong potential that both markets have completed the small countertrend rallies, and the next moves would be expected to get the markets closer to their respective Minor 4 targets. In other words, the decline could begin to pick up more speed.
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures ...
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC Rule 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will, or is likely to, achieve profit or losses similar to those shown.