Looking for support and resistance lines?
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Happy Thursday!
What to say about yesterday...Part bear trap, part bull trap, all antics. I got tricked on yesterday like many others. What's the takeaway? Market still wants to continue up.
Bulls are looking to target the 340 mark
Bears looking for 322.5ish
On an up trend in a channel. The weekl S/R lines are going to be important, as well as the golden dailies.
Bulls have a little bit of a gap to fill at 338.29-338.52
Bears still have 331.66-329.58 below
Intraday will give more details regarding todays move.
Graveyard Shift / Morning Crew
Graveyard Shift: nothing special. rode up to the weekly S/R
Morning Crew: gapping up. feeling some pushback into the gap. not getting above this area early is going to produce some weakness.
Futures Crew (/ES)
3365 was the number for the bulls yesterday. They seem to have secured it for now. 3405 is the next target for them. bears will want to keep numbers under 3345 to prevent bulls holding 3360
Two big numbers today:
For Bulls: 3405
For Bears: 3345
Resistance levels
(Pre-Market) 338.72
(See Shared Chart)
Support levels
(Pre-Market) 337.26
(See Shared Chart)
Gaps
356.37 - 357.48
337.7-338.52
Extras
On the live chart, I typically run 5's and 15's. Because these are more intraday important, I'll be updating them as they come up. Be sure to check the live is you want more immediate results.
Re-evaluating the chart layout and have decided for simplicity and cleanliness. Important lines are in this presidence:
Black Solid Bold (Weekly S/R)
Gold Solid (Daily S/R)
Dashed Black (Hourly S/R)
Blue Line (Target S/R)
Pink Line (Gap Target)
Shared Chart
www.tradingview.com/chart/oOetWWMH/
Weekly Projection
None this week.
If this helps you, like the chart and feel free to follow me. I freely offer intraday SPY commentary. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Like the idea and follow me for intraday SPY commentary!
Happy Thursday!
What to say about yesterday...Part bear trap, part bull trap, all antics. I got tricked on yesterday like many others. What's the takeaway? Market still wants to continue up.
Bulls are looking to target the 340 mark
Bears looking for 322.5ish
On an up trend in a channel. The weekl S/R lines are going to be important, as well as the golden dailies.
Bulls have a little bit of a gap to fill at 338.29-338.52
Bears still have 331.66-329.58 below
Intraday will give more details regarding todays move.
Graveyard Shift / Morning Crew
Graveyard Shift: nothing special. rode up to the weekly S/R
Morning Crew: gapping up. feeling some pushback into the gap. not getting above this area early is going to produce some weakness.
Futures Crew (/ES)
3365 was the number for the bulls yesterday. They seem to have secured it for now. 3405 is the next target for them. bears will want to keep numbers under 3345 to prevent bulls holding 3360
Two big numbers today:
For Bulls: 3405
For Bears: 3345
Resistance levels
(Pre-Market) 338.72
(See Shared Chart)
Support levels
(Pre-Market) 337.26
(See Shared Chart)
Gaps
356.37 - 357.48
337.7-338.52
Extras
On the live chart, I typically run 5's and 15's. Because these are more intraday important, I'll be updating them as they come up. Be sure to check the live is you want more immediate results.
Re-evaluating the chart layout and have decided for simplicity and cleanliness. Important lines are in this presidence:
Black Solid Bold (Weekly S/R)
Gold Solid (Daily S/R)
Dashed Black (Hourly S/R)
Blue Line (Target S/R)
Pink Line (Gap Target)
Shared Chart
www.tradingview.com/chart/oOetWWMH/
Weekly Projection
None this week.
If this helps you, like the chart and feel free to follow me. I freely offer intraday SPY commentary. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Comment:
cleared, now we see if the bears show up now or let the squeeze continue
Comment:
bulls fighting to stay above the open.
338 is where theyll want to be to keep working up.
338 is where theyll want to be to keep working up.
Comment:
337.3ish will be a spot bears push most likely down to the pre low
Comment:
there it goes.
Comment:
daily s/r is going to be a little fight, but bears ultimately looking to push near yesterdays close.
Comment:
bulls going to attempt a capture of the pre low.
coming up short should get a bearish reaction
coming up short should get a bearish reaction
Comment:
mentioned weekly s/r in notes.
its getting a little save right now. bears should try to hit it again. depending how strong this pullback is.
its getting a little save right now. bears should try to hit it again. depending how strong this pullback is.
Comment:
testing the golden line as resistance.
unless bears are giving up this price, the fight will continue here.
unless bears are giving up this price, the fight will continue here.
Comment:
got the lower high at the pre market low.
bears gonna get a chance to set a lower low.
if bulls set them with a higher low above 336 then we're still consolidating
bears gonna get a chance to set a lower low.
if bulls set them with a higher low above 336 then we're still consolidating
theyll need to cap the pre high to prove bullish