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SP500 Future (ES) Charts (03/11/14)

(2014-03-11 18:05:42) 下一個
Note:
1.  We did get early morning strength after open and ES tested 81 R and rejected promptly.  Seller stepped in and bulls could not defend 71 and we saw the market moved lower to the next support area of 66.    Since 66 have been briefly violated and ON did di again I think the possibility we will see 55, 49.5 increased significantly in the next few sessions.  Chartwise on daily chart we got a long body red candle pinky turned flat sitting near 50s.  Indicators on daily are still in bullish mode.  However the 3-h has been weakened significantly.  Remember those green candles were late in the rally and 1888 and ES was unable to test 1888 during RTH is an indicative of weakness.  So trading around pinky and test lower trading band even think blue is to be expected.

2.  Indicators for 3-hour have all turned into bearish and Pinky should have crossed the thick blue signal line during ON session.  Lower trend line and Orange are all near 60-55. Here again we expect a test to that area before any strength will return. 

3.  Levels are:  Support:  59.5, 55.5 & 1846.75, 1834.5;  Resistance: 81-2, 71-2, 68 (a big zone there).


Daily


3-Hour


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