I have a Stoxx short swing position but my focus is on daytrading right now so this is just for fun to practice analyzing the markets.
Stoxx broke above 3000 but couldn’t hold it. It hasn’t made it to my downside target which is a 30-50% retracement of the big move up, so I still have a short bias.
On ES buyers are not willing to commit above 1300 and so far sellers are not ready to initiate beyond the middle of the previous balance area (short covering got ES back into the previous balance but sellers didn’t want to sell it lower).
What do you think will happen?