Looking for support and resistance lines?
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Happy Tuesday!
Got a nice long wick off an uptrend. Normally a sign of reversal time. Any supporting evidence for this? Perhaps...
Bull support
1) Market in uptrend
2) Price is above 20, 50, 100, 200 SMA
3) Ascending wedge formation
4) Holding price above 335 pshchological
5) Price hasnt hit fib top retracement @337.79
Bear support
1) Decreasing buy volume
2) Long wicked candle (hammer/dragonfly)
3) Wick is more than 66% larger than the body
4) Approaching near all time highs.
5) Price closed on a S/R line set 13 Feb 2020
Graveyard Shift
Making another gap window this morning from 335.77. Got more bulls hopping in trying to push the market higher. trend is your friend until its not.
Futures Crew (/ES)
Getting pushback at the 3380 level. Broke out of the bull flag around 3355
Resistance levels
(Pre-Market) 337.66
337.19
337.91
338
338.22
338.5-.6
Support levels
(Pre-Market) 336.86
337
336.55
336.26
335.9
335.55
335.36
Extras
Shared Chart
www.tradingview.com/chart/oOetWWMH/
*This chart will be shared and updated all day. Come to this idea to get commentary all day for intraday playing. If you would like to know my thoughts for this week, see the chart below*
Weekly Projection
If this helps you, like the chart and feel free to follow me. I freely offer intraday SPY commentary. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Like the idea and follow me for intraday SPY commentary!
Happy Tuesday!
Got a nice long wick off an uptrend. Normally a sign of reversal time. Any supporting evidence for this? Perhaps...
Bull support
1) Market in uptrend
2) Price is above 20, 50, 100, 200 SMA
3) Ascending wedge formation
4) Holding price above 335 pshchological
5) Price hasnt hit fib top retracement @337.79
Bear support
1) Decreasing buy volume
2) Long wicked candle (hammer/dragonfly)
3) Wick is more than 66% larger than the body
4) Approaching near all time highs.
5) Price closed on a S/R line set 13 Feb 2020
Graveyard Shift
Making another gap window this morning from 335.77. Got more bulls hopping in trying to push the market higher. trend is your friend until its not.
Futures Crew (/ES)
Getting pushback at the 3380 level. Broke out of the bull flag around 3355
Resistance levels
(Pre-Market) 337.66
337.19
337.91
338
338.22
338.5-.6
Support levels
(Pre-Market) 336.86
337
336.55
336.26
335.9
335.55
335.36
Extras
Shared Chart
www.tradingview.com/chart/oOetWWMH/
*This chart will be shared and updated all day. Come to this idea to get commentary all day for intraday playing. If you would like to know my thoughts for this week, see the chart below*
Weekly Projection
If this helps you, like the chart and feel free to follow me. I freely offer intraday SPY commentary. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Komentarz:
out the gate. people want to fill the gap and people want to get in on the bull behavior.
Komentarz:
time to try and test pre market high
Komentarz:
falling short of the resistance and not closing above is bearish
Komentarz:
fell short, back to test 336.66
Komentarz:
window filled. now what? bulls need to bounce off this and break pre market support to get higher
if the price just hovers in this area (under 336) then bears will try a round two push down.
if the price just hovers in this area (under 336) then bears will try a round two push down.
Komentarz:
Having a pullback right now. Bulls need to keep the next pivot above 336.
below and the bears run again to try to low.
below and the bears run again to try to low.
Komentarz:
bulls back to pre market support.
theres an uptrend line in progress.
337.2 is the number to beat.
bulls already rejected once
bears should dhow up again.
itll either be stronger or weaker of a push
theres an uptrend line in progress.
337.2 is the number to beat.
bulls already rejected once
bears should dhow up again.
itll either be stronger or weaker of a push
Komentarz:
got a double top now.
whats bullish? above 336.75 pressing up on 337.15
bearish?
closing near, then under 336.5
time to expect a consolidation probably down to 336.6 and bouncing off of there.
whats bullish? above 336.75 pressing up on 337.15
bearish?
closing near, then under 336.5
time to expect a consolidation probably down to 336.6 and bouncing off of there.
Komentarz:
bulls are ready to push.
may expect a little fake out before they push. but they're primed now
may expect a little fake out before they push. but they're primed now
Komentarz:
heres the breakout.
resistance at the pre market high, perhaps a little sooner (337.5ish)
should get a pivot somewhere and retest of 337.2ish after they find their high
resistance at the pre market high, perhaps a little sooner (337.5ish)
should get a pivot somewhere and retest of 337.2ish after they find their high
Komentarz:
tests are happening a little lower at 337.
it seems to me to be a tell of something fishy.
bears arent ready to just go up today. and testing this low could drive price lower fast.
it seems to me to be a tell of something fishy.
bears arent ready to just go up today. and testing this low could drive price lower fast.
Komentarz:
especially coming up short on the pre market resistance...
back under the support. if bulls close under here again, seems to be prepping for a down turn
back under the support. if bulls close under here again, seems to be prepping for a down turn
getting 15m candles under 335.5 is going to bring sellers down to 335
closing hourly under 334.4 is the worst case for bulls.
Expect a window fill to 335.77 though.
If bulls are not putting a lot of bounce off 335.75ish then the sentiment is weak for higher numbers.