SP500 Future (ES) Charts (04/24/14)

1.  ES had a down day after 7 consecutive up days.  Indicators are still bullish however ES daily printed a grey candle today.  ES is traded near the top of the channel and is up against the all time high.  I expect a bit more consolidation here for bulls and bears to probe each other before the next directional move.

2.  Pl on the 3 hour frame has flattened and indicators are mixed and considered as neutral.  Since for the last few sessions 68.5 support has been holding up well (on closing base).  Bulls need to watch it out carefully if 68.5 is violated ES could test the 51 area where the triples are.

3.  RS levels:  87, 82, 77.25, 72,  66-8,  60,  51, 40.5, 30.5, 23.5, 16.5, 03.25, 1797,  and 1771



Daily



3-Hour

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Thanks!