SandP 500 E-Mini Futures 240 CME Updated 11/16/2017 Price dropped down to below the blue median line as we had mentioned as a possibility. We are now near the 2577 area which could act as possible resistance to the upside. If we start to drop again we could see the blue median line as support or 2562 again.
Market Geometry
SandP 500 E-Mini Futures 60 CME Updated 11/16/2017Price continued to break down yesterday and dropped all the way to the sliding parallel that we had also drawn in. It broke down faster than we thought, but price stopped at support at the sliding parallel and support at 2557 area and reversed. We are again now at the resistance point of the sliding parallel and we may drop a bit from here.
SandP 500 E-Mini Futures D CME Updated 11/15/2017 Price has broken now the lower blue median line. Look to see if price will continue down to support and 2545 and see what it does. We had multiple tests of resistance at the sliding parallel, and now we are drifting out of the fork which is a bearish sign.
SandP 500 E-Mini Futures 60 CME Updated 11/13/2017 Price did as expected and mentioned in my last post on this timeframe. I had mentioned price shouldcome up to 2585 or 2580 then give a signal to possibly drop. We now are at support at 2571, but it appears that it may break. If we do break here, look to the median line, and also 2565 as support to show if it may continue to the upside.
SandP 500 E-Mini Futures 60 CME Updated 11/10/2017 Price has broken down and hit the median line, then rose up to resistance at 2585 which is also previous resistance, and came back down to hit support at 2571. Price is choppy now, and volatility is increasing to the downside. Price may come up a bit more before trying to make another move to the downside. Look to see what price does at 2580 and 2585 levels.
SandP 500 E-Mini Futures 240 CME Updated 11/9/2017 Price has dropped from the 2594 area as resistance and is testing now 2577. Look to see if price will break down here andretest 2577 as resistance to cantinue lower. If that happens we could see 2567 and 2543 eventually. Also look for the pink median line.
SandP 500 E-Mini Futures 60 CME Updated 11/8/2017 Price dropped lower and found support at the median line, bounced up, and is now at resistance near 2586. We must break above 2586 and test as support to continue the upward momentum. I have also drawn in the pink downward fork in case we hit resistance up here.
SandP 500 E-Mini Futures 60 CME Updated 11/7/2017Price extented to touch the upper sliding parallel that has hit as resistance before. Look to see if price will come down to hold support at 2585. If we do hold as support there, look for possible continuation higher to try to test the upper median line.
SandP 500 E-Mini Futures 60 CME Updated 11/6/2017Price has come up and passed through the middle median line and is using it as support multiple times. Look to see if price will hold as support, break through 2585, and go to the upper median line. We are starting to coil up into energy, so there should be a move soon.