reluctantplumber

Stars align for the bears

Short
CME_MINI:ES1!   S&P 500 E-mini Futures
Going back to the last FOMO flush out in mid September, look at the volume profile from there forward - confluence with the Bear trend line retest and the 2/1 Gann pulled from the October low. Turns me bearish. Lots of support to get through but I think its a strong possibility we see sub 3900 by mid march. Interesting, that purple line resistance extends all the way back to the GFC. The market took a turn last week after the hot inflation reports. We have meeting minutes and the Fed's favorite inflation indicator on Friday next week.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.