WAITING FOR A TWIT TO PULL BACK FROM RESISTANCE LINES
Bulls are trying. Hong Kong lifted markets up a bit due to SP futures action over night, but that may not be enough to go through resistance lines. A bad news can easily send the market tumbling.
Disclaimer: This information is for entertainment only, it may be incorrect and should not be used for your investment decisions as you may lose all your money...and.. although my name says so, I am not from the future and don't know the future. I may or may not hold positions in symbols I talk about. I may change my mind and not tell you because posting stuff is not my priority. I just post things for fun based on what I've learned and that may be incorrect. Seek help from a REAL certified financial adviser (NOT who I am - I'm nobody) for your investment or trading decisions involving real money .
Disclaimer: This information is for entertainment only, it may be incorrect and should not be used for your investment decisions as you may lose all your money...and.. although my name says so, I am not from the future and don't know the future. I may or may not hold positions in symbols I talk about. I may change my mind and not tell you because posting stuff is not my priority. I just post things for fun based on what I've learned and that may be incorrect. Seek help from a REAL certified financial adviser (NOT who I am - I'm nobody) for your investment or trading decisions involving real money .
Comment:
The medium term trend is down and points to a BEAR FLAG/CONTINUATION that should resolve to the down side and continue. That has not changed yet.
Comment:
We will sit here until something happens. Good or bad. If you short, you may lose a lot of money if market breaks out. If you go long, you may also lose a lot of money if the market tumbles...lol..That's how it always is at resistance or support lines. Pick your side.
Comment:
The thing about this market is even if it breaks out, It is still a short.
Comment:
2946.5 was a previous high on /ES SP Futures chart last Friday morning before spx opened.
Comment:
May need to short it at higher level after breakout.