Es_f
S&P 500 down to 2300-2320?Yesterday's failed attempt to break higher generated a nasty reversal candle.
Please read more in my blog post here: chartingtrades.com
$ES_F - eMini SP500 - Daily and Weekly Review - June 23, 2017DAILY - Continued contraction with Double NR7 day. Currently holing both the 20D Mid-Range (2427) and 20DMA (2430.25). Trend is up clearly above 50/100/200 DMA's. Longterm RSI has crossed below its moving average but still flat in positive territory. From a trading perspective this Inside day of an NR7 day to make a 2xNR7 should leave you with simple breakout of range trading plan. Gravity has the most potential but a rally back to highs stays with trend.
WEEKLY - 20WkMA (2378.25) is the first big support area. This was also a NR7 Week (red bar) which in review has signaled potential shorterm tops are near. Still in a solid uptrend so without a weekly close below the 20wkMA we are still in the Buy the Dip game. As with everyone it does feel tired and vulnerable to a 5% healthy break, but at this stage we just need to keep following price action.
E-Mini S&P BreakoutCOT report came out on Friday and we see another increase in Net long Positions in the S&P. For the bull flag to confirm we need to close above the top of the bull flag.
A potential Elliott wave count on S&P emini futuresJust a potential wave count on ES_F
I'd love to see your opinions, feedback, alternative ideas
A potential Elliott wave count on S&P 500 emini futuresJust a potential wave count on ES_F
I'd love to see your opinions, feedback, alternative ideas
SWING SHORT /ES ($SPY $SPX) Risk 10 points to make hundreds.
Triple top daily. Double top weekly. Momentum suckage.
You'd be insane to buy up here. Massive sp500 drop on tap! Hopefully tomorrow.
Easiest Trade Of The Year. SHORT /ES. Double Top / M setup.
Stupid easy short.
Thanks Trump?
I am heavy short /es 91.50's.. if 96-98 prints it will be a gift from god to short.
Hold onto this puppies for a long time!!!!
Easiest Trade Of The Year. $SPY about to get absolutely destroyed.
As soon as this CHOP is finished expect a drop to 231's almost immediately.
You'd have to be INSANE to buy up here.
I have heavy short.
SWING SHORT /ES (SP500)Opened short at 2378.75. Will add all the way up to 2384. Hard stop at 2388. Swing trade.. hopefully on this for at least a month. Good luck.
Shorted /ES 2374.00. Hitting resistance after yestedays gap up.
2381-84 possible if 68 holds. Looking for long term swing again.
Easy $ES_F (SP500) Short. Hitting resistance right meow. Shorting here at 2354/2355.. Adding at 2366/2368. Stop at 2371.
Looking for 50 point drop minimum by end of next week. Follow the move up from 2280s.
Stock Market TopI believe that ~$237 is the Stock Market Top before a broader cycle reversal back to $140 into the coming few years. Trend line resistance extrapolated from 1995 into 2017.
Trade Idea: Short ES @ 161.80% Fib Level --> 2235-22401) 2338.75 represents 161.80% Fibonacci extension of the 2134 to 1802.50 move from May of 2015 to February of 2016.
2). Large put/call option open interest at 2250, 2325 and 2350.
3). VIX at sub 11 levels, 14 day RSI at 69, and SPX Shiller P/E @ 28.
4). Trade idea: Short ES_F @ 2335, S/L 2365, target 2255, risk $1,500 to make $4,000 per contract.
Several signs S&P is going to pulback/possibly correct very soonCME_MINI:ES1! AMEX:SPY TVC:SPX TVC:DJI AMEX:DIA TVC:VIX AMEX:UVXY AMEX:VXX NASDAQ:TVIX
Is the Running Flat complete?The corrective price action for the past couple of weeks could be a running flat and if that is what is happening, then we are getting close to support. 5-waves lower into support??
