Below are Daily charts of the YM, ES, NQ & TF. I had wanted to do a follow-up post to yesterday's that I'd written before the market close, but my Thinkorswim charting platform is down so I'm very limited on what back-up charts I can put up here today. My comments are, therefore, short and simple.
As can be seen, the YM, ES & TF closed, once again, below the falling 50 sma (red), while the NQ closed just above for the second day in a row. At the moment, the 50 sma seems to hold the key and would be an important level for the bulls to recapture if they wish to reverse this bear pattern. Whether or not technology can lead the bulls back to happier hunting grounds with a series of higher-highs and higher-lows and score a touchdown remains to be seen. At the moment, they're all still putting in lower-highs and lower-lows. Furthermore, the VIX closed at 36.20 and is still, for the moment, above the 35.50 level that I mentioned on Friday.
In conclusion, I'll be watching the action around the 50 sma on the Daily charts of the 4 e-minis, the performance of the NQ compared with the others, as well as the 35.50 level on the VIX in the coming days/ weeks.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Mon. Feb. 19 ~ U.S. markets closed for Presidents Day Holiday
* Wed. Feb. 21 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Mar. 7 @ 2:00 pm ET ~ Beige Book Report
* Fri. Mar. 9 @ 8:30 am ET ~ Employment Data
* Tues. Mar. 13 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. March 21 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Wed. May 2 @ 2:00 pm ET ~ FOMC Announcement
*** Click here for link to Economic Calendars for all upcoming events