Hello guys!! Hope you are having a good day! Im here to give you a update on SP futures. Sunday the Fed announced a $700b buy on treasuries and mortgages bonds and lowered the interest rate to 0%. But markets are always wise, and know that such stimulli wont solve the problem. So, we are waiting for a h1 close below 2380. This enables the targets of a bearish flag...
Collective High-Low important for follow through / invalidation.
pl see the inputs on the chart. Weak even in 15 mts t/f as of now
This could be heading to sub 3300 zone.
Watch this video how our Roller Coaster indicator picked this nice 40ish tick move on ES on a 1 minute chart. Currently in a wave 4 pullback using our Elliot Wave indicator. Our BITS software picked up the move about 4-5 ticks early and was extra confirmation of taking the trade. What system, process, or indicator are you using to find 40 tick moves on a low...
Support Zone marked. $SPX #SPX
Break Below can be Bearish.
Wave 4 pullback on ES 240 chart. Look at the long term 240 channel we are just below it and just below the center on a current trend 240. Our Elliot Wave indicator shows us in a wave 4 pullback. We will see what it does Sunday when the markets open.
Look how this 60 min regression channel respected the channel top, center, and bottom channel lines. More importantly, look at how we kept bouncing around between weekly and daily gaps filling unfilled orders. Just because we fill a gap once doesn't mean it's not good anymore. Proof that gaps are a great support and resistant lines to spot reversals intraday. Drop...
Revising the support zone as the shaded one on chart.
Not only the rising Trendline that's broken but also the price action indicates weakness. The first black candle could not be covered on retracement and now #ES is checking with the Lows. Chances are it can break down to 3130-3070 zone.
Wave four pullback started on ES 1 hour chart using the W5T Elliot Wave indicator. Red zones are weekly gaps and blue zones are daily gaps.
Good time to start shorting or can wait for confirmation to break neck line. I m taking some shorts in ES