Markets – Macro – Technicals

ES

This page tracks ES (S&P futures contract) over time and different time frames. Updates, including different time frames and additional technical subsets will be notified via Twitter and Facebook.

For access to other charts please visit Charts. For latest public market views please visit Market Analysis.

For access to the detailed analysis of The Daily Brief and Kiss Trades please check with Services.
___________________________________________________________________
All content is provided as information only and should not be taken as investment or trading advice. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. For further details please refer to the disclaimer.


August 29, 2017

KISS = Keep it simple stupid. $ES has transitioned from a 50MA tag environment to a 100MA tag environment. This latest tag came in overnight on the latest North Korea launch. Know where the algos live & recognise when the environment changes & what is relevant at any given moment. Cause it changes.

August 16, 2017

Last week’s pre-OPEX dip has proved to be a standard low prior to OPEX week so far. The subsequent rip off of oversold $NYMO readings has produced a powerful V filling last week’s open gap on the $ES.

However trend lines have been broken and $ES is now back against resistance. A sustained move above resistance here could re-test old highs or even produce new highs into a 2520 technical target.

Sellers need to regain control and produce new lows versus last week’s lows to see a larger corrective move into 2400 or below.

August 9, 2017

Technical extension target zone reached along with tag of long term trend line. Unless new highs are made, fib levels are valid potential long term technical corrective targets:

July 24, 2017

$ES has poked into the target zone suggested in the July 13 update. The pattern still leaves room for the possibility of a megaphone with larger downside corrective risk on a break below 2450. Upside risk remains until support is broken.

July 13, 2017

$ES has bounced off of the 50MA following the July seasonality script perfectly so far. However $ES has a multitude of key resistance levels to combat with yesterday’s Janet Yellen induced rally notwithstanding.

Specifically the November trend line remains broken, the upper tend one serves as resistance and any new highs would come on negative divergence. We’ve been quite public on any move into 2450-2500 being a key sell opportunity (see Market Analysis). This zone is marked in red here.

A break of recent lows opens the door for a larger corrective opportunity.

For further charts please click the image below:

For this chart’s history/previous versions please follow: Previous

Advertisements
The material on this website is provided for informational purposes only, as of the date hereof, and is subject to change without notice and does not constitute investment advice.
Home | About | Disclaimer | Contact
Copyright © 2013-2017 NorthmanTrader
The materials on this website may not be suitable for all investors and are not intended to be an offer, or the solicitation of any offer, to buy or sell any securities.