ES1! S&P 500 Future To Turn Down ?
Going short on the S&P 500 is a good call for the following reasons:
1. Price is nearing short daily resistance at the yellow horisontal line.
2. On 4 hour chart, you will see the rising wedge formation it currently trades in.
3. Using the TD indicator, is is currently on a perfected 8, though this 8 is actually the second TD 8 in a consitant move up so it receives even more weight. 4 hourly TD 9 commence at 12h00am and we should see cipitulation.
4. 1hour and 4hour charts are at 90 on the Stochastics.
A lot of reasons why the S&P up move would get resistance in the next couple of hours.
1. Price is nearing short daily resistance at the yellow horisontal line.
2. On 4 hour chart, you will see the rising wedge formation it currently trades in.
3. Using the TD indicator, is is currently on a perfected 8, though this 8 is actually the second TD 8 in a consitant move up so it receives even more weight. 4 hourly TD 9 commence at 12h00am and we should see cipitulation.
4. 1hour and 4hour charts are at 90 on the Stochastics.
A lot of reasons why the S&P up move would get resistance in the next couple of hours.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.