SandP 500 E-Mini Futures 60 CME Updated 7/10/2017Price has hit this sliding parallel multiple times as marked, and each time it has dropped. If we continue to drop from here look again to 2420 and 2416 as minor support. Look for 2402-2406 as more major support on this time frame, and price to continue lower until we break the sliding parallel resistance line as marked.
Medianlines
SandP 500 E-Mini Futures D CME Updated 7/10/2017Price is at a decision point here on the blue fork. If we do decide to break down look again at 2400 and 235 area as possible targets. If we go up, look to the sliding parallels as marked as possible resistance points. 2450 is starting to show itself as a resistance point that needs to be broken to the upside. Look for possible ranging and energy coiling now as we enter soon into August. I have drawn a downward fork to show what price may do if we break out of the blue fork.
SandP 500 E-Mini Futures 240 CME Updated 7/10/2017 Price has come up of the 2404 area and bonced also on the sliding parallel. I am thinking that price may pull back a bit maybe to the 2417-2419 level that we have hit many times before showing what it may do. Look to see if it continues down on the gold fork frequency. If so, we would see further price drop to the downside, especially if we can break the 2400 level.
SandP 500 E-Mini Futures 240 CME Updated 7/7/2017Price has broken out of the blue up fork, but is now at the sliding parallel. If we hold as resistance here near 2417 and starte to drop down we should see a contniuation of the trend on the yellow median line. Look at the yellow median line sliding parallels as possible resistance points.
SandP 500 E-Mini Futures D CME Updated 7/7/2017Price has dropped from the 2440-2450 area, and we are now near support at 2400 area. Look for price to hold here for the short term. We are now breaking out of the up fork, so if we have a few down days look for a new momentum for a correction. Be aware that the trend has a possibility to trend on this time frame.
SandP 500 E-Mini Futures 60 CME Updated 7/7/2017Price has dropped as expected below the blue median line. We should probably rest here ar a bit higher around 2421 before the day is over at minor resistance. There is also a minor resistance level around 2417 that could act as resistance. Lets see what price does by the end of the close today.
SandP 500 E-Mini Futures 60 CME Updated 7/6/2017Price has turned over on the sliding parallel to the median line, and is going lower. I added that in after seeing multiple tests on the diagonal side and rolling over. if we break 2417, we could see 2412 and 2400 and lower on this time frame. For every support we break, look for a retest as resistance as a possible short term play until we hit he lower median line parallel.
SandP 500 E-Mini Futures 240 CME Updated 7/6/2017 Price is starting to roll over to the down side if we can get belowe 2418 and retest as resistance, we may see 2400 again. Look to see what price does at this point, as this is a major support area of 2400-2418. I drew in the width fork that I have had on the 60 minute chart
SandP 500 E-Mini Futures 60 CME Updated 7/3/2017Price has fallen from the resistance band at 2443-2439, and held at support near 2403 which is prior support. We are now at the resistance band of 2429-2427, so look to see price slowly rise out and test as support before stopping maybe between 2439-2451 as today is before a holiday and the market should be bullish.
SandP 500 E-Mini Futures 240 CME Updated 7/3/2017Price is at a minor resistance area at 2429. Look to see price to possibly break through this and retest and go higher, or to 2440 area, then see if price can hold there or not. Price could also reverse here, but seeing as today is before a holiday, the market psychology will probably be bullish.
SandP 500 E-Mini Futures 240 CME Updated 6/30/2017Price has dropped hard from hitting the resistance zone near 2440-2445. We have broken support at 2418 area, but held at the 2400 area, Look to see if price continues to drop below 2400 we should see a further downward move. Price seems to be consolidating at the moment between 2400 and 2450 area.
SandP 500 E-Mini Futures D CME Updated 6/30/2017Price has dropped down to the 2400 area, and is now coming back up and retesting the lower yellow median line. Look to see if price can hold here and rise again, or if we are going to consolidate and fall out of the fork. We must break 2450 to continue.
SandP 500 E-Mini Futures 60 CME Updated 6/30/2017Price hit the upper median line and dropped almost to the lower median line, but stopped at the 2402 level. These are all areas that we had mentioned in prior charts as possible resistance and support. Now we are coming back up to minor resistance around 2427. Because of the volatility, we may go a bit higher than this before holding as resistance, but this sell off yesterday may continue to push price lower eventually.
SandP 500 E-Mini Futures 60 CME Updated 6/29/2017Price has comeback up from the support area near 2417, as mentioned the past few days as possible support, and is now again at resistance at the top of the yellow Andrews Pitchfork. Look to see if price will continue to show resistance here, or if we can see a break of the fork to the upside with a possible retest of the upper median line to the upside. At this point, these are the two scenarios I see.
SandP 500 E-Mini Futures D CME Updated 6/29/2017Price has bounced off of the lower yellow median line and is rising higher. Look to see if price will continue following through to the upside past resistance here around the 2440-2450 area. We must continue higher, or we will consolidate here and fall out of the fork eventually.