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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

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Cabin

Cabin

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
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*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Wednesday, April 11, 2018

S&P 500 E-mini Futures Index Stalls Below Resistance

* See UPDATES below...

As at 6:30 pm ET tonight (April 11) the S&P 500 E-mini Futures Index (ES) is trading just below a couple of intraday resistance levels, namely, 2649.51 (40% Fib retracement level) and 2660 (triangle apex), as shown on the following 60 minute (extended hours) chart. The momentum indicator is just above zero.

We'll need to see a clear break and hold above or below this triangle, with corroborating momentum, to gauge direction and sustainability. Whether that happens by Friday is anybody's guess at this point, particularly with the Syria issue still developing.


* UPDATE April 12 post-close...

As price closed higher today, we now have a potential reverse Head & Shoulders pattern formation on the following 60 min. intraday chart of the ES.

2675 (price and IHS neckline resistance) and 2680 (50% Fib retracement level shown on above chart) are major resistance levels that will need to be broken and held in order to, ultimately, complete such a reversal pattern.

If a reversal is actualized to its full extent, its measured move target would be 2800, as shown on the daily chart below. Whether that happens, and when, is anybody's guess.



* UPDATE April 17 @ 1:15 am ET...

Price has broken above its 2680 IH&S pattern neckline/major resistance level, as shown on the following daily chart of the ES. Its momentum indicator has now made a higher swing high, as well, hinting of further strength ahead.

A hold above 2680 will be important if its IH&S target of 2800 can, potentially, be achieved.