Looking for support and resistance lines?
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Happy Tuesday!
Turnaround Tuesday. Yesterday had some sneakups from the bears. The market is losing some gas above 350. Expecting a collapse? Not really. A pullback would make more sense. Where to? First, the breakout a 344.6. Whats the sign there wont be a pullback? closing an hourly above 350.7
Of course, the market is ever changing, so be sure to see the updates throughout the day.
Graveyard Shift / Morning Crew
Graveyard Shift: Drove lower, down to 348.5ish. it's a prior support and still held.
Morning Crew: gap up. rejected. trying to float above 350. a gap up is normally bullish. especially on an uptrend. but not garnering enough support to get other big fish biting. So it's uncertain whos gonna run out the gate.
Futures Crew (/ES)
Have some consolidation happening. 3485 is what the bears need to cap to drive lower. Bulls need to hold 3500 and cap something above 3515.
Resistance levels
(Pre-Market) 351.05
(See Shared Chart)
Support levels
(Pre-Market) 349.52
(See Shared Chart)
Gaps
341.06 - 339.71
331.18-330.06
327.73-326.63
Extras
Keeping in mind this is all new territory for the bulls, there's no easy way to find a resistance. All resistances are new and the market will tell what is and isnt a resistance as time goes on.
Shared Chart
www.tradingview.com/chart/oOetWWMH/
*This chart will be shared and updated all day. Come to this idea to get commentary all day for intraday playing. If you would like to know my thoughts for this week, see the chart below*
Weekly Projection
See below.
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 Tuesday!
Turnaround Tuesday. Yesterday had some sneakups from the bears. The market is losing some gas above 350. Expecting a collapse? Not really. A pullback would make more sense. Where to? First, the breakout a 344.6. Whats the sign there wont be a pullback? closing an hourly above 350.7
Of course, the market is ever changing, so be sure to see the updates throughout the day.
Graveyard Shift / Morning Crew
Graveyard Shift: Drove lower, down to 348.5ish. it's a prior support and still held.
Morning Crew: gap up. rejected. trying to float above 350. a gap up is normally bullish. especially on an uptrend. but not garnering enough support to get other big fish biting. So it's uncertain whos gonna run out the gate.
Futures Crew (/ES)
Have some consolidation happening. 3485 is what the bears need to cap to drive lower. Bulls need to hold 3500 and cap something above 3515.
Resistance levels
(Pre-Market) 351.05
(See Shared Chart)
Support levels
(Pre-Market) 349.52
(See Shared Chart)
Gaps
341.06 - 339.71
331.18-330.06
327.73-326.63
Extras
Keeping in mind this is all new territory for the bulls, there's no easy way to find a resistance. All resistances are new and the market will tell what is and isnt a resistance as time goes on.
Shared Chart
www.tradingview.com/chart/oOetWWMH/
*This chart will be shared and updated all day. Come to this idea to get commentary all day for intraday playing. If you would like to know my thoughts for this week, see the chart below*
Weekly Projection
See below.
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:
bulls are down right now.
looking for a pullback up to 350.2
looking for a pullback up to 350.2
Comment:
350.13 looks like a good resistance before 350.2
Comment:
looking at /esmini futures, 3497.5 is the what bears need to close the hour under to get some down action.
all in all, the bulls are still winning until bears can get confident closes under 350.
and itll happen in increasing time intervals.
all in all, the bulls are still winning until bears can get confident closes under 350.
and itll happen in increasing time intervals.
Comment:
bulls working upwards. 350.55-6 ish is the next target in mind
Comment:
took off up to the pre high. they struggled to close above this yesterday. to gain further ground ATM theyll need to close 2 candles above.
Comment:
bulls holding above 350.55 okay.
They're trying to build energy to get above yesterday.
really light volume to be aware of and the pre high is holding them back ATM.
They're trying to build energy to get above yesterday.
really light volume to be aware of and the pre high is holding them back ATM.
Comment:
breakout as i was typing that up...351.3 is the next push back area.
Comment:
so far, bulls made it to the resistance, but were quickly pushed down...again.
a sign the market isnt ready to join the train.
Doesnt mean theres an utter collapse incoming, but they may decide to test 351 for awhile.
in the meantime, bulls have defended 350 well and doesnt, look like a return down there is formed up yet.
expect play between 351.2-350.6
a sign the market isnt ready to join the train.
Doesnt mean theres an utter collapse incoming, but they may decide to test 351 for awhile.
in the meantime, bulls have defended 350 well and doesnt, look like a return down there is formed up yet.
expect play between 351.2-350.6
Comment:
pressing up on 351.2 is bullish. the longer they push the more likely theyll want bust.
the important first stop for the bears is 349.4
capping this will cause a quick pushdown.