Emini S&P 500 expectations.

ES price hit support and continue upwards as expected. Now, there is a HUGE RESISTANCE WALL at 2824.25, that is the next target and it looks very solid, ES will need full power to break through it. Only time will tell. For everyone following this trade there were many long trade opportunities. Congratulations.

 

Now for this resistance area at 2788 level what I see is price trying to push slowly upward. If this keeps going on it will break through it soon.

 

Yesterday ES made a pullback, could not go any higher, then price bounced off support at 2762 trying to come back up. Will it break resistance at 2798 ? We will try to find out today. Note: There was a nice chance for a long opportunity in this pullback.

 

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That sounds right;
last SEPT, 2018 comment.Agree LOL. Figure an orderly sell off today;last FRIday,FEB, 2019 BUT if S&P 500/QQQ keeps up trending, like today ,which doesn't seem likely, may try to get long or long QQQ related by MAR 7-not a prediction.

 

ES is heading up toward resistance one more time, will it break it ? What do you think ?

 

Next weeks are going to be very interesting. Believe it or not, If ES manage to break upward the next resistance levels with enough big directional money, especially the 2824 barrier, then ES price action will surge upside with enough power to give hope of puncturing 2497 (September 2018 high). As always, only time will tell, our mission is to be ready to take action.

 

In this chart look at that triple top that looks like a ceiling, well, that is where ES is trying to go. If that ceiling is broken and price manage to stay above it, then 2947 price level is the top of the sky. We will see.

 

As expected we found heavy resistance today. Let´s see if ES market can absorb all that offer to move upwards one more time.

 

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Good run+ up run;
stock deriviavites + cash market still going up/postmarket =uptrends tend to do that NOT a prediction.Every uptrend has daily tops; every down trend has daily bottoms.

Cash market SPY had a down week last week in JAN . WSJ newspaper ''painted'' that chart green because of a gap down open price monday down/week LOL; I record open price, but main measure is weekly close to close...................................................................................

 

Please keep an eye on this move, it will be very interesting to follow.