S&P 500 Buy Signal After False BreakS&P 500 CME_MINI:ES1! has produced a buy signal after the false break down and subsequent reversal higher.
Daily chart shows inside bar false break ( fakey pattern ). Potential buying opportunity on pull back 1900-1915 support area, with initial upside targets to 1940-50 and 1960-80.
Indicies
JPN225 Monthly chart SKACAPITALThis trade would be a perfect options trade (not binary) price can reach 2400 level. Looks like the 5th impulse wave is in play with price breaching and retesting the downward trend line at 61.8%. If price does reach 2400 we can then expect a corrective wave structure to downside of 1500. However, this would be re analysed. If price breaks below 1800 we can see further bearish downside movement to 1500.
No V bottoms in sightOK...look at the charts and learn how selloffs work. We were looking for a pullback Friday and never got one. This market is weak and it is inflicting it's pain on people. The $NQ blew through support and is selling off again in the Globex session. We are watching the support area below for a trigger. The trade long will be for a bounce. The path of least resistance is to the down side. NO TRIGGER, NO TRADE!