ES bullish extension
Today Powell committed to easy money, while GDP estimates as of Feb. 18th are at 9.5% they feel there is still need for support. There is currently $3.1 trillion sitting in reserves in depository institutions. The idea is to bring that number back down to pre-pandemic levels around $1.4 trillion. With GDP estimates and all this money ready to flood the markets I don't see investors holding cash.
Immediate support is sitting at 3860 with targets at 3994 followed up by a break to 4058
ES found support off of it's 50% retrace near 3807
Daily closed a nice pin just above previous high
Let me know your thoughts!
Immediate support is sitting at 3860 with targets at 3994 followed up by a break to 4058
ES found support off of it's 50% retrace near 3807
Daily closed a nice pin just above previous high
Let me know your thoughts!
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.