Sandp500
SandP 500 E-Mini Futures 240 CME Updated 11/16/2017 Price dropped down to below the blue median line as we had mentioned as a possibility. We are now near the 2577 area which could act as possible resistance to the upside. If we start to drop again we could see the blue median line as support or 2562 again.
SandP 500 E-Mini Futures 60 CME Updated 11/16/2017Price continued to break down yesterday and dropped all the way to the sliding parallel that we had also drawn in. It broke down faster than we thought, but price stopped at support at the sliding parallel and support at 2557 area and reversed. We are again now at the resistance point of the sliding parallel and we may drop a bit from here.
SandP 500 E-Mini Futures 60 CME Updated 11/13/2017 Price did as expected and mentioned in my last post on this timeframe. I had mentioned price shouldcome up to 2585 or 2580 then give a signal to possibly drop. We now are at support at 2571, but it appears that it may break. If we do break here, look to the median line, and also 2565 as support to show if it may continue to the upside.
S&P 500 Short set-up from hereS&P 500 Index SPX500
The last short got stopped out at even - right idea, wrong
double top. Now it's fallen below the parallel that's been
guiding this impulse wave since summer lows...it's trying to
make a feeble counter-rally back to kiss the underside of the
lower parallel before it falls away again to 2566-2564 range
where it should make a rally attempt to form the right
shoulder of a head and shoulders pattern now forming here.
Sell from 2580 or as close to as possible with stop above 2583
for 3 point loss if wrong...once 2564 breaks after a first
bounce from there of up to 11 points back to 2573-2577 range
it should fall again at least back to 2564 and then when that
fails to 2541. Two short trades here worth following
SandP 500 E-Mini Futures 60 CME Updated 11/10/2017 Price has broken down and hit the median line, then rose up to resistance at 2585 which is also previous resistance, and came back down to hit support at 2571. Price is choppy now, and volatility is increasing to the downside. Price may come up a bit more before trying to make another move to the downside. Look to see what price does at 2580 and 2585 levels.
SandP 500 E-Mini Futures 60 CME Updated 11/8/2017 Price dropped lower and found support at the median line, bounced up, and is now at resistance near 2586. We must break above 2586 and test as support to continue the upward momentum. I have also drawn in the pink downward fork in case we hit resistance up here.