Emini S&P 500 expectations.

More bigger picture. Weekly chart....

 

These are just my ideas that I wanted to share with you.

 

Bulls in control by the moment. Beware: Long term trend is still downward.

 

Now approaching EMA 30 price level at 1 day chart and RESISTANCE zone. These price levels are key, let´s wait to see how price action behaves.

 

What a move up! Amazing !!!

 

You cannot say "long term" anything with a 240 minute chart. Sorry.

 

It is fine, that is your opinion. It is also respected and welcome.

 

Now, let´s see how price action behaves at this level. Long term trend in the day chart is still downward. Interesting....

 

While the Daily Chart has indeed come off it's highs - it is too soon to say that the long term trend is down. We will have more work to do on the downside in order to break down some very long standing technical support. Using 240 minute charts does not offer the resolution to back up your long term assessment.

 

Thanks again for this important observation. Please note that, for my swing trading perspective (my trading time frame) "long term trend" is based on what the daily chart says during the last days price action, timing entries and exits using the 4 hour chart. Maybe "long term trend" is not the best way to address it. It is my personal style. I do like your observation, please keep it up, I like to share ideas and to learn from others.