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Pitchforks
Andrew's Pitchfork

Andrew's Pitchfork

SandP 500 E-Mini Futures 60 CME Updated 5/12/2017 Price has bounced on WL1, but is also showing resistance now at 2388 area. look to see if price can hold from here, or if it will continue turning over. if we go lower i could see 2361 eventually being touched, but 2377 is acting as major support at the moment.

SandP 500 E-Mini Futures 240 CME Updated 5/12/2017 Price has bounced on 2378 and is trying to break 2388 again. Look to see if price can rise from here in the next few days.

SandP 500 E-Mini Futures D CME Updated 5/12/2017 Price has dropped from 2400 and is now holding at the sliding parallel. Look to see if price can break down more in the next days, or if it will hold here. We are still in an over all uptrend, following in the blue fork.

GBP/JPY beginning of a starling?We want to highlight the situation with this change from the chart. From time frame daily there is an interesting Andrews fork , whose upper parallel line of 0.5 to the median line coincides about with a maxium in mid-December, where, as is well-known, the price has undergone a bearish inversion. We underline how RSI is on a level where in the past physiological corrections have occurred, including probably gains from profits. By shaking time on a 4h time horizon ( imagine below ) , we can notice how it is forming a sort of rising wedge. If the price does not reach the area from that we intend to go short, we could always take position confirming the breakout of this figure. As a minimum target a likely return to the 145 (past resistance zone, Fibonacci, median line).

Short

Updated

SandP 500 E-Mini Futures 60 CME Updated 5/11/2017 Price has dropped out of the up blue fork, and now is following the pink fork. Look to see if price holds at resistance 2389, and continues to drop. I am looking to see price go again down to 2375 area and eventually lower, but watching as price rolls over.

SandP 500 E-Mini Futures 240 CME Updated 5/11/2017 Price has come down farther from the 2400 level today, and is currently trying to hold at the 2375 area and also the lower blue median line. I have added the downward pink fork, which is also aligned with the upward blue fork and has shown good symmetry. Look to see if the low of the action reaction set will hold.

SandP 500 E-Mini Futures D CME Updated 5/11/2017 Price has come down from 2400 area, as today we have shown some more selling. Price is resting on the sliding parallel here, and showing some buyers again. Price may continue todrop to 2368 level.

SandP 500 E-Mini Futures 60 CME Updated 5/10/2017 Price has bounced from the 2388 level and is trying to hold, however we are hitting the sliding parallels that have captured some of the lows as resistance. If we break 288 hard you could look as a retest of that level as potential downside trigger, as well as the break of 2377. We must stay above 2394 and try again to break 2400 area and retest as support to show we can move higher.

SandP 500 E-Mini Futures 240 CME Updated 5/10/2017 Price is near the resistance zone of 2388-2400. Price has come down from 2400 and is trying to hold at 2388 to go higher. Look to see what we do in the next couple days. I need to see price either break 2400 and retest as support, or price break the 2388 and 2375 area to signal a short fade opportunity.

SandP 500 E-Mini Futures D CME Updated 5/10/2017 Price has come down from 2400 and it looks like it may try to test again 2400 and higher. Look to see if the minor support around the 2390 area holds.

SandP 500 E-Mini Futures 60 CME Updated 5/9/2017 I have drawn in the upward yellow gap pitchfork to see if price can break it and fall out of this upward frequency, or if it may continue. Look for a break and retest to the down side if possible, and then I may draw in a new downward fork on the retracement. Look to see if price will come down to test the bottom dashed pink line, or even lower of 2375-2366.

SandP 500 E-Mini Futures 240 CME Updated 5/9/2017 Price has stalled at 2400, and is starting to come down. We have hit a minor sliding parallel, and we will see if price can try to come back up to 2400 to test again. Loo to see if 2388 will be tested and broken as well. Price needs to make up its mind in this area.

SandP 500 E-Mini Futures D CME Updated 5/9/2017 Price is stalling at resistance here at 2400. Look to see if price will drop lower from here to possibly the sliding parallel level or the 2368 level or lower.

SandP 500 E-Mini Futures 60 CME Updated 5/8/2017 Price has made a new higher highon this timeframe near 2404. We are now retesting 2389 area as support and holding, so it appears that we may continue higher, however, look at the red trendline and notcie how we cannot break it. There is a hidden frequency here that is creating a slowing down of the force of the upward move. To continue, we must break the upper pink line and hold as support to go to next level.

SandP 500 E-Mini Futures 240 CME Updated 5/8/2017 Price has come up to the 2400 area after testing 2376 area and holding. Look to see if price can break and retest as support the 2400 area, or if we will retrace from here.

SandP 500 E-Mini Futures D CME Updated 5/8/2017 Price has come up to test 2400 area again which is now a psychological level and major resistance point. Look to see if price can break and retest, or if we will fall from here.

SandP 500 E-Mini Futures 60 CME Updated 5/5/2017 Price is stalling here near 2389-2377. We are in a range, and price is not sure which way to go. I am thinking price could potentially pull back and fill the gap of last week, but we would have to break down from here and also break the 2375 area.

SandP 500 E-Mini Futures D CME Updated 5/5/2017 Price is still stalling near resistance at 2391 area. Look to see if price can break to the upside later today or early next week. We could also see a drop lower to fill last weeks gap as well to the 2352 area. The lower timeframes are showing a possible retrace bias.

SandP 500 E-Mini Futures 60 CME Updated 5/4/2017 Price has come to test 2389 on some strong move up from the support at 2375. If we can break 2375 hard here could see a drop farther down, but at the moment price is in a range and not sure what to do. My bias is still to the downside, as we have not broken 2394 , and are not able to break 2389 as well.

SandP 500 E-Mini Futures 240 CME Updated 5/4/2017 Price has come to hit the 2388 area agin and drop. This is not good news for the bulls. Lets see if it gets some momentum to the downside and can break 2375.

SandP 500 E-Mini Futures D CME Updated 5/4/2017 Price has come again up to the resistance area near 2389. Look to see if price will drop here or go higher and try to hit the 2400 area. The resistance is showing strength, but price will tell.

SandP 500 E-Mini Futures 60 CME Updated 5/3/2017 Price has come down off of the pink downward median line, and is now resting on a minor support sliding parallel. We could see some small bounce here or a bit lower near 2375 and 2367. Those will be a bit stronger areas to look to see if price can continue lower and fill the gap. My bias on this time frame is to the downside until the previous high at 2394 is toking out strongly.

SandP 500 E-Mini Futures 240 CME Updated 5/3/2017 Price has started to drift lower after retesting the fork. I drew the larger fork on this time frame to emphasize the touching on the meddle median line. Look to see if price can break 2376 area. If so, we could have a much greater chance of dropping to 2350 area and lower.

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