ES BIG PICTURE
ince Oct price has been moving up on low volume
High volume spikes on down months
Last 3 months have been bullish price exploring new ATHs.
Price Volume Traded showing divergence on monthly/weekly/ TF
On daily price is moving up
On 240 price is moving up up approaching divergence level - so expect a pullback if not reversal
I will need to see...
after a very strong selloff SPY has retraced and currently, the market is approaching a key level of resistance on daily.
On 1H chart the market is consolidating and coiling within a narrow trading range.
If bears break below the range, for us it will be a perfect signal of a bearish continuation and...
Price action played out as anticipated. It was an inside day. Overnight session appear to have just been a continuation of price action that had been disrupted by the tweets thereby creating some obfuscation of intent.
Overnight the downward action continued on good volume of about 330k contracts. VPOC established below yesterday and Tuesday’s.
I am expecting...
The first day back from a long weekend. Yesterday's trading volume was rather low as expected, since most of Europe was on holiday. Today, Tuesday, overnight session trading was confined to a narrow range of 6pts within the highs of yesterday's NY session. On open, I am expecting the price to test yesterday's highs.
Note this week heavy on Q1 earnings. Rather...
S&P 500 Forming head and shoulders and is expected to have another leg up within the new few months to a peak of $3000 marked in yellow. Before we see the reversal and start to fall to the target areas we have shown. S&P 500 has been on a Major bull run since 2012 and is now expecting to curve the momentum.
Weekly update on the major US equity markets using the S&P500 E-mini futures index.
Stay tuned! There should be more to come
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