Bulls and Bears zone for 10-13-2020After a huge rally yesterday, ETH session traded in a range which is not surprising.
However, a test of Fibonacci 50% range of yesterday's RTH session should provide direction.
Level to watch 3534 --- 3536
Emini
NQ1!, Technical Breakout, Attempt to Establish a Short Term TopAfter a consolidation period (a smaller rectangle) the market broke to the upside. This is a good example of a technical breakout when a smaller consolidation takes place before breaking a well established level. That breakout has higher odds to stick. At this point the market is trying to establish a short term top before entering a new consolidation phase. Buy side may start feeling the heat if the price breaches 11660. However, 11600 is expected to be defended on first test. This is a good level to attempt a long. The idea gets invalidated if a strong downside momentum is created, usually by a news, leading to a liquidation move. Until that happen, a potential target remains 11800 with a 11750 hurdle on the way. If you watch traditional indicators like RSI flashing an overbought condition consider the structural breakout more important. Once the top is established, whatever the machine find appropriate, the RSI overbought condition would kick in.
10/11/2020
Bulls and Bears zone for 10-09-2020Most of this week, market rallies first then sells off in the afternoon.
So far today, market has rallied to yesterday's RTH session High, any test should provide some direction for the day.
Level to watch 3456 --- 3458
Bulls and Bears zone for 10-08-2020Market has rallied to Fibonacci 127.2% extension during ETH session, which could be some what over extended.
Therefore, test of ETH High could provide direction for day.
Level to watch 3420 --- 3422
Report to watch:
US:EIA Natural Gas Report
10:30 AM ET
Bulls and Bears zone for 10-07-2020After a quick sell off yesterday, during ETH session market has recovered substantially.
Any test of Fibonacci 50% and 61.8% level should provide some direction.
Level to watch 3367 --- 3369
Report to watch:
US:EIA Petroleum Status Report
10:30 AM ET
S&P E-MINI 500 (SWING) 15MINSell Signal
The market may keep going down
Stop loss and Take profit Mentioned on the chart
Bulls and Bears zone for 10-06-2020Yesterday's and ETH Highs are around same area which makes it an important level to watch.
Any test of ETH high should provide some direction for the day.
Level to watch 3385 --- 3387
Reports to be aware:
US:JOLTS
10:00 AM ET
US: Jerome Powell Speaks
10:40 AM ET
S&P E-MINI 500 (SWING) BUY SIGNALthe market may keep going up
Stop loss and Take profit Mentioned on the chart
Bulls and Bears zone for 10-05-2020It is interesting that ETH High is same as Thursday's Close.
Therefore, bulls need to take that High out if they want to push the market higher, otherwise sellers will take control of the market.
Test of ETH high should provide direction for the day.
Level to watch 3360-3358
Report to watch:
US:ISM Services Index
10:00 AM ET
Bulls and Bears zone for 10-02-2020Yesterday during RTH session, sellers became active at Fibonacci 61.8% level.
During ETH session, sellers were active at Fibonacci 50% level.
Therefore a test of Fibonacci 50% level should set direction for the day.
Level to watch 3335 --- 3337
Reports to watch:
US:Consumer Sentiment
10:00 AM ET
US:Factory Orders
10:00 AM ET
Bulls and Bears zone for 10-01-2020Yesterday afternoon's sell off should be a reminder that sellers are present at certain levels.
Need to see a test of ETH High.
Level to watch 3380 --- 3382
Reports to watch:
US:ISM Manufacturing Index
10:00 AM ET
US:Construction Spending
10:00 AM ET
US:EIA Natural Gas Report
10:30 AM ET
Bulls and Bears zone for 09-30-2020Overnight session sellers were aggressive and buyers are trying to rally this morning.
If Bulls can not get over Fibonacci 50% level of yesterday's RTH session then we might get a sell off today.
Level to watch 3330 --- 3332
Reports to watch:
US: Pending Home Sales Index
10:00 AM ET
US:EIA Petroleum Status Report
10:30 AM ET
Bulls and Bears zone for 09-29-2020Overnight session market has been trading in a range which could be the case for RTH session.
Would like to see a test of ETH Low.
Level to watch 3334 --- 3336
Report to watch:
US: Consumer Confidence
10:00 AM ET
Bulls and Bears zone for 09-28-2020Overnight session has continued to rally since Friday's RTH session.
However, it seems that the rally has slowed down this AM.
Test of ETH high should provide some direction for the day.
Level to watch 3328 --- 3330
Bulls and Bears zone for 09-24-2020Bulls are having difficult time to put together a rally.
When price is around any round number as 3200, it is prudent to keep an eye on it and see how traders react.
Level to watch 3210 --- 3212
Reports to be aware:
US:New Home Sales
10:00 AM ET
US:Jerome Powell Speaks
10:00 AM ET
US:EIA Natural Gas Report
10:30 AM ET
E-mini testing supportE-mini still just a two leg mean reversion at this time. When price gets so over extended from the mean like it was there can be some overshoot to the downside past he mean.
