timwest
Short

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.
+1 Reply
bull for me Tim!
+1 Reply
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.
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The "mode" there at 2016 is holding... so the market is just chopping around until it breaks one way or the other.
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timwest timwest
2014 with 16 days.
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Thanks 2use. I do use "time at mode" for all kinds of short term trading (even intraday setups)
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2use timwest
I had an impression it works better on larger pictures,isn't it so?
+1 Reply
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