This hourly chart of the S&P 500 E-Mini’s are short term support / resistance levels to monitor.
(click image for full size)
S&P 500 E-Mini Update
June 18, 2010 By 1 Comment
The S&P 500 E-Mini’s made an attempt to bust above the 1115 resistance level in the morning trading but failed.
The S&P 500 E-mini (5 minute scale) has formed an intra-day head and shoulders pattern with all the right measurement criteria (lowering volume on each peak).
Watching the intra-day trend line (white line). A move below that level puts 1108 on the table as a potential target.
This is a delicate situation here right now, the intra-day trendline either holds or breaks, need to watch that area closely. Can’t call the close here at this time as right now it depends on the trend line holding or not.
Market Holds On A ‘Technical Bounce’
February 5, 2010 By
The action in the market today was driven mostly by the technical’s. That is, the end of day reversal was upon the channel support discussed over the past two days in the market videos.
On the hourly chart of the S&P 500 E-Mini’s we discussed the channel (green lines), and today that channel offered support towards the end of the day. Today’s rally into the close appears to be simply a technical bounce and nothing more.
I will cover this in much greater detail in the weekend video.
(click chart image for larger view)
S&P 500 E-Mini Futures Chart – Hourly Scale
January 18, 2010 By
As discussed in the last market video, the S&P 500 E-mini futures broke below a trend line last Friday which was present on the hourly chart.
While the U.S. markets were closed today, futures trading continued for part of the day. At this time the S&P e-mini futures are up to the resistance level (trend line), and that resistance level appears to be holding at this time.
Bears Had A Big Appetite Today
December 17, 2009 By
The levels discussed in the videos and highlighted in the chart posted this morning broke to the downside. The bears awoke hungry today and had a helping of bull meat for breakfast and lunch.
Will discuss further in tonight’s video update.
S&P 500 E-Mini
S&P 500 E-Mini Chart Update
December 17, 2009 By
Hourly chart of the S&P 500 E-mini’s
A critical level is now in play
S&P 500 Chart and GDP
November 24, 2009 By
This morning the Q3 GDP was revised lower to 2.8% (from 3.5%) and personal consumption was also revised lower to 2.9% (from 3.2%).
The mortgage industry is still falling apart from within. Consider this news out of Freddie Mac (FRE) this morning:
Freddie Mac Reports Oct monthly metrics; Single Family delinquency rate 3.54% v 3.33% m/m
Until there is a significant improvement in delinquencies this data still suggests much steeper losses lay ahead of us in the financial sector.
S&P Case Shiller Price Index came in ‘not so hot’:
SEPT S&P/CASESHILLER-20 Y/Y: -9.36% V -9.10%E;Â Â HOME PRICE INDEX: 146.5 V 146.9E
It had been showing the slightest sign of stabilization in recent reports, now it is headed back down again.
During the overnight hours we got confirmation of the channel on the S&P E-mini’s with the /ES trading down to 1098, right at the channel support line.
Watch this channel carefully, a move below the channel is the dynamic change needed to set this market into a new downward path. The range of the channel is 1100 on the bottom and 1120 on the high side.
S&P Futures
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S&P 500 E-Mini – Damaged
November 19, 2009 By
Today’s damage to the markets began in the early morning hours when the currency markets went crazy. The Euro sank, the US dollar rose, and the S&P 500 futures declined significantly.
All of this action left the S&P 500 in a state of “uh oh”
Some significant damage was done this day…
S&P 500 E-Mini
