S&P500 FUTURES - Analysis of the current downtrend

CME:SP1!   S&P 500 Futures
611 8 14
Downside targets are measurable to 1920:

Using the Time At Mode Technique: There are 16-days of time (since the peak) at the 2014 area. Measure the high-low range and box it in and count the number of days that touch the mode. Project that box down from the mode. (See the green box - target 1920). This analysis depends on the S&P             moving away from the 2014 level and staying under 2014 all day.

I added some volume profile analysis to show another technique where you can look at a balance of volume and where the market would need to go to create a balance across the current downtrend.
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look at the T-notes pulling back
+1 Reply
tompower LEONES
yes I'm not going to get rich on this chart anyway it is a ping pong effect right now, I have no idea which way it's going.
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bull for me Tim!
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I don't usually see you doing short term index coverage :) nice to see time at mode in action again. It seems many have a bearish bias. SP500 did bounce of an 200MA after a 3rd test of support line.
The "mode" there at 2016 is holding... so the market is just chopping around until it breaks one way or the other.
timwest timwest
2014 with 16 days.
Thanks 2use. I do use "time at mode" for all kinds of short term trading (even intraday setups)
2use timwest
I had an impression it works better on larger pictures,isn't it so?
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