ES opened .5% down 20 mins ago. I completely understand that we have another half a day until markets open but i wanted to point out that with ES's open it is essentially finishing out the H&S pattern.
If it breaks below the bottom trend line that would be an objective short signal. If SPY gaps down below $320 at open that's a personal foul on the bulls. That mixed with the gamma flip at about $320.50 http://stocks.tradingvolatility.net/gexCharts i feel like we'd knife through the first gap at $317 and crash into buyers at around the $315 - $312 area. REMEMBER there is a lot of money on the sidelines still waiting for opportunity and i'm honestly not expecting this type of impulsive selling but am just making the support and resistance calls. I wasn't expecting futures to open that far red either. So we'll see.
Please view my last two posts to get context on what i'm referring to.
This is not trading advice, this is for entertainment purposes only based off of my own personal technical analysis
If it breaks below the bottom trend line that would be an objective short signal. If SPY gaps down below $320 at open that's a personal foul on the bulls. That mixed with the gamma flip at about $320.50 http://stocks.tradingvolatility.net/gexCharts i feel like we'd knife through the first gap at $317 and crash into buyers at around the $315 - $312 area. REMEMBER there is a lot of money on the sidelines still waiting for opportunity and i'm honestly not expecting this type of impulsive selling but am just making the support and resistance calls. I wasn't expecting futures to open that far red either. So we'll see.
Please view my last two posts to get context on what i'm referring to.
This is not trading advice, this is for entertainment purposes only based off of my own personal technical analysis
