- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......
- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
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Friday, 27 April 2018

TGIF

I'm doing a morning post today as I'm hoping to take most of the afternoon off after a big webinar at lunchtime. Starting the weekend early. :-)

ES/SPX broke back over the daily middle band yesterday and needs to confirm the break above with another close above today. That's is currently in the 2655 area on both ES and SPX and is clear support. If we were to see a rejection back under there today then we might well see most or all of yesterday's daily candle retraced, as that is seen very frequently on a middle band break and non-confirmation.

So the daily middle band is clear support today. Clear resistance is at the ES monthly and weekly pivots at 2678.75 and 2683.25. The high on ES yesterday was .at the monthly pivot test and if ES is going to fail there we would ideally see yesterday's high tested this morning to establish negative RSI divergence, then a hard fail.

Premarket Video from theartofchart.net - Update on ES, NQ and TF:
IF ES breaks over both monthly and weekly pivots and converts them to support, then that opens a possible test of last week's high at 2718/9. ES Jun 60min chart:
Everyone have a great weekend :-)

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