June S+P 500 Futures have broken a continuation triangle
to the downside,thus accounting for the sharp downside move overnight
Shown here on the 60 minute chart,
S+P Futures are quickly on their way back down the chart.
Crucial Neckline Support below the market is at 2800
should futures decide to put the maximum pressure,
on the bulls,..prior to the long...
S+P 500 Futures Price Rally
to start the new week of trading overnight on 5/20 is, to my eyes highly suspect,
and offers a patient short seller a major opportunity
to position and sell the rally, prior to,a potential major break in the retracement pattern.
Rally has the potential to reach 2880 if shorts continue to cover,
so being patient is the key here.
The Emini reversed down from a failed breakout of the all time high, and nested wedge reversal. There are trapped bulls who bought the May 3rd high who want out. Most bulls used the new high to take profits as the market is likely to transition into a trading range over the next few months or even years. However this does not mean the bulls will not get another...
Overnight trading in stock index futures shows
that the market is prepared to open sharply lower
immediately reversing Friday's bullish reversal.
Stalemate breakdown in US/China trade talks,
an unthinkable result just days ago,
appears to be the catalyst for the latest selloff.
A new market trend is now developing.
Market rallies in afternoon trading,ending at...
This isn't the usual market propaganda post but rather an objective chart showing opps on either side of the fence (mostly to annoy one or two shady characters out there by the fact that I do actually know how to trade; you know who you are)
Put simply the long scalp entries have been pretty clear cut here for one who has the patience to buy under red and sell...
Stocks are forming an open auction day, consolidating about yesterday's POC. They seem to be knocking on the upper bound of this range, indicating we may see a slow drift higher. This would make sense as the markets have been beaten down off trade fears for the past few days.
Keep in mind that a headline could send us careening up or down depending on whether...
S+P 500 Futures have plunged, trading down over 50 points
on the Open of trading for 5/6.
News this weekend that US/China Trade talks have stalled,
and that a potential new 25 % increase in tariffs on China
by the US has caused an unexpected "reversal of fortune"
in the futures market.
How far down..stock index futures could trade at this point,
Yesterday (5/2) was a large trading range day. After a spike and climax bear trend and large second leg down from the previous day (FOMC announcement), prices reversed up in two legs. The bears failed to form a bear channel and instead prices remained within a smaller trading range and closed in the middle of the days range.
So far today is in a tight trading...
I see a scalp trade opportunity. This is going to be 1:2.5 RRR quick trade. I have 12 tick stop. Actually I am not trading futures so often. But I will give it a try
This is not financial advice
Plenty of charts showing doji's, spinning tops, hanging man, and inverse head and shoulders on the major indices, all pointing to why the market should correct in the coming weeks. Add this trendline break to the list of reasons for the same.
No prediction or price target, but a 3rd close below this line would suggest a change in momentum, if not a full reversal.