There is a strong channel from $151 to $159, if we break that trendline, I would expect a breakdown to that $151 mark fast. This would give short term puts nice profit while allowing long term buyers a time to buy, alerts set for a break of the yellow trendline.
There is alot of news this week, and Jerome Powell will be speaking most of the week. This means that the markets will be very volatile. Watching ES!1, a break below $3287, which we currently are pre-market, could mean a possible breakdown to $3246 - $3209. Watching for a bounce around those areas, short below $3287, if $3246 is breached, no longs opened until we...
BYND This is setting up for a very nice break to the upside. This has a daily support of $157.8, we could dip one more time to $155 to complete the cup and handle pattern but this should see higher very soon to at least $165.
Prime Day Prime day happens every year since 2015. This event allows AMZN prime members to access exclusive discounts for 2 days. This usually happens in July but due to COVID-19 it did not happen this year. Rumors are now circulating that Prime day will be announced soon, the general consensus is that it will be Oct 5-6 and no later than Oct 20. 15 days prior...
S&P 500 Futures With Quad witching this week, the market has been on a downtrend but reaching weekly demand zone. This could mean that we break lower next week if this does not hold but overall it looks like this will bounce from here. Moving into the hourly chart, ES1! Has repeatedly tested and failed to breach below demand. This could mean that investors are...
Finished the day with a very indecisive candle, from here, our daily support is 205.7, watching 202.6 for a break lower and 207.95 for a break higher. Earnings pushed this past its bullish channel and filled the previous gap, so if we break lower, this could re-enter this bullish channel and continue to bounce with the rest of the market, above and we could test...