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S&P 500 E-mini Futures

ES correction and key levels to watch

By Freshly_Snipes
Updated
Here is a breakdown of levels I am watching after the FOMC minutes pushed major indices lower. ES/SPX gave up the trend, can turn into sell the rally event if bulls do not recover the 4745 level fast and hold (not looking like it so far,) I am leaning toward a lot of volatility. Rest of the week will be difficult and big moves up down. Downside targets now adjust to previous lows. 4640/4615/4590/below that ES can sell to 200 day moving average at around 4400.

Thanks for watching.
Note
We bounced off that 4590 level and rallied back above 4650. Now bulls are targeting 4700 - 4710. Above that level of resistance is 4745 a major spot that I would suspect gets sold. If we end up retesting 4605 and it breaks we could see a deeper sell to the 200 day.
Chart Patternscorrectioneminieminisp500S&P 500 E-Mini FuturesfibsupportFOMCTechnical Indicatorssp500indexSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend Analysis
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