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NeonLight
Aug 12, 2020 8:20 PM

SPX / ES Looks to distribute Short

E-mini S&P 500 FuturesCME

Description

Prices have soared for the last month and a half.
Only now have we experienced a stutter in the trend. Looking at the daily stochastic, there was a crossover that occurred yesterday to the downside.
Technically speaking, we failed to breach Feb highs today, while creating daily stochastic and MACD bearish divergence.
There is also a trend line which was broken yesterday and subsequently. Back tested today, it failed to close above.

Through this week into next, I am looking to go short with a target of 3270 and 3180
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