/ES at resistance here

Short

Contrats à terme E-mini S&P 500 (CME_MINI:ES1!)

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CME_MINI:ES1! Contrats à terme E-mini S&P 500

trendanalysis chartpattern spy spx500 qqq iwm futures

With more upside probable on the dollar, this kick back rally may be close to being over. 18ma (purple) is the test. If it can't get over the 18ma, then we probably go lower to the 200 MA area (3100ish). The geometry looks correct for more downside right now - which most traders are not expecting.

good luck, sunship

Commentaire:

Adjusted trendline to fit better with the important MA's, still no confirmation of uptrend and weak volume

Commentaire:

If today we get over 18ma, it's bullish. We ended the rally there overnight

Commentaire:

this retrace is too high, I'm expecting one more high or double top on /ES. Could be wrong, but that's what I'm expecting as of now.

Commentaire:

Possible target is the trendline again

Commentaire:

/ES touched this pitchfork median line Friday at the very end. Was it a stop hunt? we'll see in the next few hours. Shouldn't get over 3486 or so if this is correct. GL

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