The market continues to show strength, although momentum has waned quite a bit. Even though I am bullish on the market, the risk/reward for opening new longs here is unfavorable. Until I see signs of weakness, my weekly outlook remains bullish.

On a related note, the opening range for the ESM13 contract is between 1558.75 – 1529.25. The pivot range is 1551 – 1544.