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ES NQ Futures Trading
- Thread starter Jahajee
- Start date
"The NASDAQ Best Eight Months MACD Sell Signal triggered on June 15. This is the âOfficialâ MACD Seasonal Sell Signal for the NASDAQ. Use any strength to sell NASDAQ positions in your seasonal switching portfolio. Also, consider lightening up on other long positions on rallies...."
"...$SPX failed to capitalize on its upside breakout above 950 last week.
Ever since, the index has been on the defensive. To make matters
worse for the bulls, nearly all of our technical indicators have
generated sell signals. Recently, the $SPX breakdown below 930
confirms that last week's upside breakout was a false one and raises
the possibility that the lower end of the trading range, near 880, will
now be tested.
The $SPX chart is neutral, with strong support at 880 and strong
resistance at 950. There are some who claim that the chart has turned
negative with this week's decline, but that isn't the way we are
viewing it. Rather, the false upside breakout has merely returned
$SPX's classification to "trading range" from "bullish." However, if
880 is violated on the downside, that will clearly be bearish.
Meanwhile, adroit traders can attempt to trade within the range -- buy
near the lows and sell near the highs..."
Ever since, the index has been on the defensive. To make matters
worse for the bulls, nearly all of our technical indicators have
generated sell signals. Recently, the $SPX breakdown below 930
confirms that last week's upside breakout was a false one and raises
the possibility that the lower end of the trading range, near 880, will
now be tested.
The $SPX chart is neutral, with strong support at 880 and strong
resistance at 950. There are some who claim that the chart has turned
negative with this week's decline, but that isn't the way we are
viewing it. Rather, the false upside breakout has merely returned
$SPX's classification to "trading range" from "bullish." However, if
880 is violated on the downside, that will clearly be bearish.
Meanwhile, adroit traders can attempt to trade within the range -- buy
near the lows and sell near the highs..."
"The S&P ended higher the last two days of the week but still broke its four week losing streak. While the late week rebound cut into the slide off the June peak the price patterns continue to suggest the move is part of a temporary correction. A sustained advance through resistance at the high (927) and the 928/930 area is needed early next week or it will be vulnerable to a resumption of the pullback. "
Major S/r next week:
SPX 200-ema 942
SPX WEEKLY CLOSE 921
SPX 200-sma 903
SPX 50-ema 897
Major S/r next week:
SPX 200-ema 942
SPX WEEKLY CLOSE 921
SPX 200-sma 903
SPX 50-ema 897
Are too many getting too bearish, too quickly?
"Our view of what will happen this week is, unless the financials join in on the upside, we are looking at SP500 coming back to test 900 and then working its way down to 875. That 875 will be an important test at the bottom of the prior consolidation range. The market is in a transition phase thanks to SP500 and the NYSE indices. SP500 failed the first test at the January peak and now it is coming back and has to consolidate and set up again. It is also going to have to pick up the financials along the way, again that is the X factor that determines SP500's movement or at least the magnitude. The dollar will continue its bounce - no pressure from oil and the related stocks that are tied to the dollar. The rest of the market will pause and likely come back. Again, NASDAQ is going to be the other X factor - what is it going to do at the November high? Up to this point, it has looked fantastic with respect to its technical action. Will it be able to fend off a lower high and still bounce or consolidate along that November peak?"
"Our view of what will happen this week is, unless the financials join in on the upside, we are looking at SP500 coming back to test 900 and then working its way down to 875. That 875 will be an important test at the bottom of the prior consolidation range. The market is in a transition phase thanks to SP500 and the NYSE indices. SP500 failed the first test at the January peak and now it is coming back and has to consolidate and set up again. It is also going to have to pick up the financials along the way, again that is the X factor that determines SP500's movement or at least the magnitude. The dollar will continue its bounce - no pressure from oil and the related stocks that are tied to the dollar. The rest of the market will pause and likely come back. Again, NASDAQ is going to be the other X factor - what is it going to do at the November high? Up to this point, it has looked fantastic with respect to its technical action. Will it be able to fend off a lower high and still bounce or consolidate along that November peak?"