Weekly update, 04.06.2018. SPX, ES1

CME_MINI:ES1!   S&P 500 E-mini Futures
Weekly update: this time a playable chart instead of a playable video =)


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As you can see, we´ve been pretty much flat during last 3 weeks which probably indicates a beginning of a summer period with low volumes and volatility . However, my reference points are there and the next one is at the cross of two forks which corresponds to 2784 ES1 approximately. I will take a short position there. If the level is broken, then, we probably need to expect more upside, maybe even above the ATH , and then I will review my target levels. However, even with the new ATH on NAS right behind the corner, I honestly still dont consider a new ATH on ES1 before we complete an A-B-C zigzag down as shown on a chart.

Trade well and have a good week!
Trade active: Shorted ES1! Let´s go for it!


I added shorts today as the cross of two forks and resisting cluster have not been beaten yet

No updates on this: we are still below everything so keeping shorts

Weekly chart is funny as it is showing we still have not arrived to the cross of two forks =) Notice how Stoch RSI entered the Overbought territory for first time since January ATH
Trade closed manually:

And there was a drop... But not big enough and there were buyers all the time. Stoch RSI is in oversold area now and turning thus I closed my short and waiting for another opportunity
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