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.

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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.

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