Traders,
Look at the thick Exponential Moving Averages (EMA's) on the daily chart. They are crossing and looking VERY bullish. The Red is 50 EMA. The blue is 14 EMA. These indicators are EXTREMELY powerful. A cross to the downside is referred to as the "Death Cross," but there is no general name for when it crosses to the upside. We'll just call it The "Bullish...
The S&P is looking increasingly strong as a bottom appears to be forming. Price has rejected the NO TRADE ZONE earlier last week and pushed back to those levels to test the underlying support which held perfectly shown by the daily chart.
BUT we are not out of the woods yet. ES closed the week below the CRITICAL PIVOT price of 2708 which was expected last week....
