Equity indices moved up right after open on this Monday morning. But ES looked like forming a right shoulder on daily. I will wait to see if ES gets knock on its head again in the next day or two. If it breaks up then we may see a new high and next balance area.
Energies were up too. I got a relief from NG since it went up 1.5%. CL pushed up to 102.5-103 range. It's filling up this LVA. I tried to bracket a put in July contract but didn't get fill. I may wait for Wednesday after inventory report.
Grains tested low and turned around in later season. Wheat tested 663 which was near my 660 position. It backed off on condition report. I may be saved with 20 points away and only 4 days to go. Grains are in a hurry up and wait stage. It's all depending on planting progress and weather. Beware of a big move in later Spring on weather conditions. I may want to hold on trading sizes.
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