SPX &September's Pullbacks Almost 70 % of the time we went southSimple Study.
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Spx5000
NG: Natural Gas futures gapped up switching to July contractNG: Natural Gas futures NG switched to July contract on May 26 at 18 p.m. gapping up to $1.93. Based on 4 Hr chart, resistance of $2.0 has not been reached yet indicating potential to go higher. MACD crossed pointing toward higher prices as well. RSI is at 60, which has been the level that capped the most recent rally at $2.0 (May 18 -22). Chande momentum is forming a "megaphone" pattern indicating some potential to go higher in the near-term.
UGAZ: Traded flat at $17.30 during NG gap up to $1.93. If $1.93 NG price is sustained overnight, expecting a gap up on the open for UGAZ, possibly up to $19-20 level.
