SP500 Future (ES) Charts (02/20/14)

NOTE: Today's candle charts are Heikin Ashi candle charts to illustrate the indecision of the current market.

• Daily's had printed two spinning candles in a row and candles are still grey.  So this market is not only uncertain about direction but also weak.  If u look back the strong trends usually printed green candles early is the trend.  When green candles appeared late the trend normally reverted quickly.  We got 4 candles consolidating at the upper trading band and pinky is leveling off.  So expecting more sideway trading until ES find direction.  Indicators are still bullish and momentum continues decline (expected).  Overall it is a range market with slight bullish bias.
• 3-hour showed a nice rally today after ON session tested 18 support and ES became oversold.  The rally briefly penetrated 38-9 resistance but quickly retreated below it again. Pinky and the signal thick blue line are overlapping  so ES is ready for a signal very soon.  FVO and SYNC have emerged from bearish zone and LMI is neutral.  Rainbow is contracting and it appears ES is setting up for a bullish move to challenge the 46 high if it can clear the 38-9 with authority.  The lower trading band is near 18-9 support.
• S/R remain un changed. 

DAILY



3-HOUR

[Ophelia]

thanks!!!

[CCCCCC2010]

Thanks

[9368]

Thanks.