SandP 500 E-Mini Futures D CME Updated 2/21/2018Price has dropped down as predicted, and now we are at a possible resitance point to the downside. Look to see if price will break down from here. We could see a possible ABCD correction to the downside here with an eventual target near 2425. Look to see what develops in the next few days.
Andrew's Pitchfork
Action & Reaction At WorkThis is how Action/Reaction roughly works:
1) take the center of a major swing
2) mesure back and
3) project it forward.
Observe how price is acting/reaction at the R-Lines.
This is the same principle like: "If you push to a wall, the wall is pushing back."
On my new Blog-Post for registered FreeFTG members, I'm going into details about this technique that stem from Newtons 3rd law of motion, and adapted to the charts by Dr. W. Babson, who made a fortune and started the Babson Collage.
It pays out to know more then just common trading knowledge...
P!
SandP 500 E-Mini Futures 240 CME Updated 12/15/2017 Price is extended up to resistance near 2675. We have dropped a bit, and are now testing another resistance point at 2665. Look to see if price will drop a bit more before trying to break 2675, or if we can get a push above 2675 and retest as support before going higher.