The final leg of the "B" wave correction appears to be a diagonal. Once the immediate trendline AND the last swing low is broken, the ES should begin the final "C" leg to the downside.
ES looks to potentially test 2710 and head lower if that is not defended.
While I am personally trading the SPY due to it's great stock and options liquidity there have been a number of great bullish signals being through in multiple index and futures markets. Today I focus on the NASDAQ 100 futures and point out a nice inside bar/2 bar reversal pattern that as already broken out to the upside as well as an inside bar/ false break...
I have been patiently waiting for a breakout of the consolidation area that has been forming since mid last week. Price looks to finally be ready to break out of that range this morning. Price action has been signally strength recently with yesterdays gap up and price hugging the upper range of the consolidation area and then this morning with another breakout...
The markets have taken a bit of a breather over the last week or so. This type of price consolidation is common after a strong move and can provide good opportunities to get into the market for the next leg. In this case we have price still consolidating but starting to hug the upper range of the consolidation area. A potential entry is on the breakout of the...
Last week we saw an inside bar pattern form on the ES. There was a false break out of this inside pattern. Price pulled back in and continued to consolidate. Going into the Monday morning trading session it looks like we will have a gap up and may finally see that upside breakout to start the next leg up.
Price continues to consolidate on the daily chart so I take a look at any price action in the hourly charts. I see a potentially bullish hammer setup on the hourly chart off of a key price level. If the candle closes as a hammer and breaks above we may see that next strong bullish move up.
Traders, Look at the thick Exponential Moving Averages (EMA's) on the daily chart. They are crossing and looking VERY bullish. The Red is 50 EMA. The blue is 14 EMA. These indicators are EXTREMELY powerful. A cross to the downside is referred to as the "Death Cross," but there is no general name for when it crosses to the upside. We'll just call it The "Bullish...
An inside bar has formed on a number of charts including the /ES, /YM, XLF -0.42% and others. These are all following a strong trend which signals that the market is taking a short breather. Generally in periods of price consolidation after a long move we want to look for opportunities to get in the market on the next up move. In these cases we would be looking to...
ES SPY Futures Barely Red RESISTANCE Lines And Pivots
I have QQQ Puts Executed / CCI Indictator
34 min chart Resistance Levels ; I've had PUTS QQQ SPY ES CCI INDCATOR LINK NQ Nasdaq Futures 34min min chart CCI
SPY Rejected at Fibonacci 61.8% Retracement as previously called So far so good
Layout www.tradingview.com volume strength candles //StokedStocks Volume Strength Candles / Bars (VSC) //Is Price Action Higher or Lower on STRONG or WEAK VOLUME from lookback / Length (Strong or Weak Bulls // Strong or Weak Bears) //Candles / Bars Indicate the Following (default 13 period lookback / Length) //MAROON Bear Candle with STRONG VOLUME more than 150%...
$ES $SPY $QQQ WEEKLY Fibonacci 61.80% Huge Resistance Coming. That with really bad volume. We'll know this week breakout or breakdown I'm leaning towards the latter if we truly are in a correction Some analyst think the 3 month correction is over. . Also bearish divergence on the money flow index (not shown)
Just doing some updates. No bias, both scenarios to the upside and downside are shown. Both support and resistance levels shown. Both Measured Moves to the upside on downside shown. Period of major reversals/retests / volume / volatility is in light blue where the Apex lies. Will be interesting to look back at this in 6 months.