Monday, April 17, 2017

Morning Charts 04/17/2017 SPX /es

Global unrest and distractions are rising - they need to blame to dip (coming collapse) on something - been saying it for years - I've always asked which would come first, the collapse or the war. STB "event" potential is really high right now.

On to the lie -

Absolute low end of the consolidation area - any wonder the futures rallied this morning?  Potential descending triangle. Price is slowly stepping down here in a orderly way. Can it remain orderly if this support cracks?

SPX 5m - The HnS I was looking at all last week may have played out. The Futures rally this morning stopped it short of its target. Falling blue wedge and double positive divergence. Bottom line is weakness persists. Sub 37 support is a real danger zone.

SPX 60m - MA resistance and a large support-less zone below. Overall a possible large descending triangle.

SPX 2hr - Overthrow over and back in the brown channel. Falling red channel and possibly a descending triangle. MA resistance all over.

SPX Daily - Lower BB support here. Possible soon 20/50 ma bear cross.

More to come below.

Have a good day.

GL and GB!

No comments:

Post a Comment

Keep it civil and respectful to others.