S&P500 in short term consolidation
The S&P500 futures the ES1! 4H chart shows a consolidation range of about 150 points with the 55EMA running in the middle of this range acting as a medial resistance. The 4H MACD suggests of a bearish bias; and breaking out of this range below the support means a continuation of the downside. 3100 appears to be the strong resistance at this point.
Some things are clear:
1. The S&P500 peaked out at 3230 (see daily chart too); and
2. The daily MACD is in line with the 4H MACD crossover into bearish territory, likely over the next two days.
We had earlier warnings, now is yet another. Watch carefully.
Last chance!!
——//——
Do share your comments and views too, please. Am open to exchange views and learn from each other.
Some things are clear:
1. The S&P500 peaked out at 3230 (see daily chart too); and
2. The daily MACD is in line with the 4H MACD crossover into bearish territory, likely over the next two days.
We had earlier warnings, now is yet another. Watch carefully.
Last chance!!
——//——
Do share your comments and views too, please. Am open to exchange views and learn from each other.
Related publications
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.