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mjcooney

/ES Price Action Prediction, Long into Short into Long

S&P 500 E-mini Futures (CME_MINI:ES1!)  
mjcooney  
CME_MINI:ES1!   S&P 500 E-mini Futures
Trend Analysis Chart Patterns S&P 500 E-Mini Futures priceaction priceactionanalysis priceactiontrading Technical Analysis LONG short
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trendanalysis chartpattern es1! priceaction priceactionanalysis priceactiontrading technicalanalysis long short
As shown I believe we will see a repeat of the price action from August - October. With additional quantitative easing fuelling the markets, barring any unforeseen circumstances, there will be no trouble in achieving the top end of the green range specified. At that point I predict a bounce off the trend line ~2990 and a sell off of similar magnitude to that of late September. Coincidentally that would put the price at levels that have flipped from resistance to support in the past lining up a chance for another bounce ~2817. In the event that support doesn't hold I predict a bounce at ~2750 with the potential for 2817 to act as resistance for a further sell off.
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