Looking for support and resistance lines?
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Happy Thursday!
Yesterday was a little bit of a wash for the bears. Gap was filled by the bulls. Bears made a late appearance slightly to test the hourly support line. Lets take a recent historical event similar to this.
June 8-11th there was a -6.99% drop
Sept 2-8th (equal to 3 trading days) there was a -6.85% drop
June 12th retracement above important weekly S/R
Sep 9th retracement above important weekly S/R
June next 3 trading days got above the .5 fib
This week are we setting up for the same event? the .5 retracement is super close to the top of the flag channel. Its a possibility...
Intraday will give more details regarding todays move.
Graveyard Shift / Morning Crew
Graveyard Shift: Nothing Special
Morning Crew: Gap down, drive up. Looking to open gap up. Bullish start.
Futures Crew (/ES)
Bulls and bears battled it our last night at yesterdays resistance zone. Bulls seemed to have come out winning so far.
Two big numbers today 3415 & 3441.25
bulls need to cap 3415 and make a rush to 3441.25
would expect a resistance push there. but maintaing 3415 is the goal today
Resistance levels
(Pre-Market) 341.68
(See Shared Chart)
Support levels
(Pre-Market) 338.04
(See Shared Chart)
Gaps
356.37 - 357.48
338.05 - 342.29
331.18-330.06
327.73-326.63
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!
Yesterday was a little bit of a wash for the bears. Gap was filled by the bulls. Bears made a late appearance slightly to test the hourly support line. Lets take a recent historical event similar to this.
June 8-11th there was a -6.99% drop
Sept 2-8th (equal to 3 trading days) there was a -6.85% drop
June 12th retracement above important weekly S/R
Sep 9th retracement above important weekly S/R
June next 3 trading days got above the .5 fib
This week are we setting up for the same event? the .5 retracement is super close to the top of the flag channel. Its a possibility...
Intraday will give more details regarding todays move.
Graveyard Shift / Morning Crew
Graveyard Shift: Nothing Special
Morning Crew: Gap down, drive up. Looking to open gap up. Bullish start.
Futures Crew (/ES)
Bulls and bears battled it our last night at yesterdays resistance zone. Bulls seemed to have come out winning so far.
Two big numbers today 3415 & 3441.25
bulls need to cap 3415 and make a rush to 3441.25
would expect a resistance push there. but maintaing 3415 is the goal today
Resistance levels
(Pre-Market) 341.68
(See Shared Chart)
Support levels
(Pre-Market) 338.04
(See Shared Chart)
Gaps
356.37 - 357.48
338.05 - 342.29
331.18-330.06
327.73-326.63
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:
Gap line at 339.75
a quick touch and go are expected.
a quick touch and go are expected.
Comment:
bulls are holding the pre high well right now.
similar to yesterday, holding price should produce more bulls.
also looking at this as a possible knock knock on price.
342.5 got a nice rejection yesterday.
double tap rule in effect. should get another push down from that price, before reloading and bursting through.
just wondering is theyll let bears pushdown to fill the gap...
similar to yesterday, holding price should produce more bulls.
also looking at this as a possible knock knock on price.
342.5 got a nice rejection yesterday.
double tap rule in effect. should get another push down from that price, before reloading and bursting through.
just wondering is theyll let bears pushdown to fill the gap...
Comment:
bulls need to close above 342.15ish to illicit a move to the golden line.
bears need to close under the pre high to do the same.
until then its channel surfing.
bears need to close under the pre high to do the same.
until then its channel surfing.
Comment:
under the prehigh, bears need a confirmation candle to go down more.
Comment:
need the confirmation to drive higher.
itll be a close above 342.15
itll be a close above 342.15
Comment:
time to bust through 342.5 for the bulls.
Comment:
bulls met with a shakeout.
channel surf back in effect.
another way to view this though: the more times bulls save from a down fall, the more likely theyll drive it up and away from said price.
channel surf back in effect.
another way to view this though: the more times bulls save from a down fall, the more likely theyll drive it up and away from said price.
Comment:
well theres the bears confirmation candle to the gap...
Comment:
wow. big bears showing up now...
hmm looking for bulls at the the pre low if this continues.
Weekly black bold line is an important marker for the bulls. Theyll want to get above it to recover.
hmm looking for bulls at the the pre low if this continues.
Weekly black bold line is an important marker for the bulls. Theyll want to get above it to recover.
Comment:
yesterday was a gap and breakout from 337.5ish
there was no retest of it.
also to mention that theres still a gap from tuesday.
there was no retest of it.
also to mention that theres still a gap from tuesday.
Comment:
bulls need to recap most of 339 and hold a 340+ soon
right now is a retest of 339.75-340
right now is a retest of 339.75-340
Comment:
bears are tapping down. still looking for othe 337.5 retest.
wanted to examine this as a possible scenario appearing.
live chart will be clean of these drawings