alleytrader

es, spy, day trading for Feb 19th 2020

FX:SPX500   S&P 500 Index
bullish over night move inside a very big balancing zone so a break of red zone should take us to the outside of the balance zone to test the buyers and sellers in them areas. so above that is 3390 area and below is 3355 area. Until this area is cleared looks to be a back and forth of this big zone using smaller daily zones inside that range.
I think we could easily find our way back tot eh 3370 area and then one more late day push back to day highs if not big range high if buyers really step in.

Below 3370 then most likely a test of the bottom of the big range for less of a late day bounce.

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.