$ES Emini SPY SPX
Two interesting scenarios here
As long as bulls stay over 4xxx, I think we see another leg up
However, there was serious volume lacking last week (could have been due to the short week) but if not, the bullish scenario could indicate MMs simply setting up to drop it again.
If 4076-4030 support holds, the triangle remains valid.
I expect chop in the 4164-4200 supply. I'd be looking to short from the supply zone there.
If bulls cannot sustain above 4000, I see test of the 3810 low on the cards.
As long as bulls stay over 4xxx, I think we see another leg up
However, there was serious volume lacking last week (could have been due to the short week) but if not, the bullish scenario could indicate MMs simply setting up to drop it again.
If 4076-4030 support holds, the triangle remains valid.
I expect chop in the 4164-4200 supply. I'd be looking to short from the supply zone there.
If bulls cannot sustain above 4000, I see test of the 3810 low on the cards.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.