Emini S&P 500 expectations.

I took a look this morning at the chart and now it likes ES will face a retracement (will go up) at least for a small correction inside this downward move. There is a MACD / PRICE divergence in the Day and 4 hours chart, also price during the last 12 hours has been trying to go down with no much of a advance (change in velocity) and now it is coming back over 2628 price level. Please look at it, what do you think ?.

DAY CHART:



4 HOURS CHART: The MACD / PRICE divergence is clear in this chart.

 

I noticed that MACD histogram divergence on 4-hour chart as well -- which has led to a bounce off the lows.

 

Yes, now let´s wait for price action to confirm this idea.

 

Mal:

You might consider making your MACD histogram box a little "taller." That divergence seemed more apparent on my chart.

 

MACD / Price divergence is more evident now, price action in development...

 

Now the question is how long will this retracement last. ?

 

Keeping an eye on this move ....

 

May be contained in this edge for some time to come.

 

Meanwhile a long trade will suffice for today.

 

I think we have some room to move up to just above 2700. Might find some initial resistance there and then we'll re-evaluate.