Get started
ZombieStar

Market prices are getting squeezed. Only way out is down!

Short
E-mini S&P 500 Futures (Jun 2020) (CME_MINI:ESM2020)  
ZombieStar Updated   
CME_MINI:ESM2020   E-mini S&P 500 Futures (Jun 2020)
Chart Patterns Trend Analysis Wedge SPDR S&P 500 ETF (SPY) eminisp500
4
0
chartpattern trendanalysis wedgepattern spy eminisp500
What you see here is price being trapped between several moving averages. There are buyers and sellers smashed into this mess like sardines. Buyers are putting their bids on one moving average, and sellers are stubbornly putting all their listings on another moving average. One side has got to give. Since sellers are sitting on profit, the path of least resistance is down.
Comment:
snapshot

the move up this morning could be the same fake-out that resulted in market dumping OR it could be legit depending on how the market opens.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.