Looking for support and resistance lines?
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Happy Thursday!
Quite the meltdown yesterday. I wasn't anticipating it going to the 322 range. But this area is slightly contentious. What's some of the possibilities?
Bulls could play heavy defense around 320.5ish. They would need to hold this area.
Bears would want to drive under 320.5ish. Looking to target something lower. Starting with 315. Then, it's gonna sound crazy, but 300 as a mid term target.
Lots of sale volume on the pullback with institutions showing some skepticism on the rise.
Intraday will give more details regarding todays move.
Graveyard Shift / Morning Crew
Graveyard Shift: nothing special held 322.5
Morning Crew: Gapped lower. Working the weekly S/R
Futures Crew (/ES)
Massive breakdown yesterday. Bears looking to crack 3200. Bulls need to get back above 3270 and hold to make anything possible. Below 3200, bears next target is around 3182.5
Two big numbers today:
For Bulls: 3270
For Bears: 3200
Resistance levels
(Pre-Market) 323.34
(See Shared Chart)
Support levels
(Pre-Market) 320
(See Shared Chart)
Gaps
356.37 - 357.48
337.7-338.52
Extras
On the live chart, I typically run 5's and 15's. Because these are more intraday important, I'll be updating them as they come up. Be sure to check the live is you want more immediate results.
Re-evaluating the chart layout and have decided for simplicity and cleanliness. Important lines are in this presidence:
Black Solid Bold (Weekly S/R)
Gold Solid (Daily S/R)
Dashed Black (Hourly S/R)
Blue Line (Target S/R)
Pink Line (Gap Target)
Shared Chart
www.tradingview.com/chart/oOetWWMH/
Weekly Projection
None this week.
If this helps you, like the chart and feel free to follow me. I freely offer intraday SPY commentary. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Like the idea and follow me for intraday SPY commentary!
Happy Thursday!
Quite the meltdown yesterday. I wasn't anticipating it going to the 322 range. But this area is slightly contentious. What's some of the possibilities?
Bulls could play heavy defense around 320.5ish. They would need to hold this area.
Bears would want to drive under 320.5ish. Looking to target something lower. Starting with 315. Then, it's gonna sound crazy, but 300 as a mid term target.
Lots of sale volume on the pullback with institutions showing some skepticism on the rise.
Intraday will give more details regarding todays move.
Graveyard Shift / Morning Crew
Graveyard Shift: nothing special held 322.5
Morning Crew: Gapped lower. Working the weekly S/R
Futures Crew (/ES)
Massive breakdown yesterday. Bears looking to crack 3200. Bulls need to get back above 3270 and hold to make anything possible. Below 3200, bears next target is around 3182.5
Two big numbers today:
For Bulls: 3270
For Bears: 3200
Resistance levels
(Pre-Market) 323.34
(See Shared Chart)
Support levels
(Pre-Market) 320
(See Shared Chart)
Gaps
356.37 - 357.48
337.7-338.52
Extras
On the live chart, I typically run 5's and 15's. Because these are more intraday important, I'll be updating them as they come up. Be sure to check the live is you want more immediate results.
Re-evaluating the chart layout and have decided for simplicity and cleanliness. Important lines are in this presidence:
Black Solid Bold (Weekly S/R)
Gold Solid (Daily S/R)
Dashed Black (Hourly S/R)
Blue Line (Target S/R)
Pink Line (Gap Target)
Shared Chart
www.tradingview.com/chart/oOetWWMH/
Weekly Projection
None this week.
If this helps you, like the chart and feel free to follow me. I freely offer intraday SPY commentary. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Comment:
First move is to hit the gap at 322.
Comment:
They came up short.
bulls getting worked at the support.
Thisll count as the first tap.
bulls getting worked at the support.
Thisll count as the first tap.
Comment:
Gap filled.
Next bulls test is the pre high.
If they can reach and survive the first rejection
Next bulls test is the pre high.
If they can reach and survive the first rejection
Comment:
bulls are scaling up
fighting the golden line they were squashed into yesterday on.
revisiting this area, bulls want to try and cap.
theyll need on the hourly close to prove their point for now.
fighting the golden line they were squashed into yesterday on.
revisiting this area, bulls want to try and cap.
theyll need on the hourly close to prove their point for now.
Comment:
bulls lost the first hour candle.
bear turn to retest the weekly S/R
bear turn to retest the weekly S/R
Comment:
bears came up short so far. Theres a wedge forming. the breakout/down should provide a more clear direction. but the longer bulls tap up, the more likely theyll want to break through
