SPX500USD ES1! SnP500 2021 Sep 27 Week
SPX500USD ES1! SnP500 2021 Sep 27 WeekImpressive recovery of the SnP after the down move. This means the uptrend is still intact at the moment.
However caution needs to be exercised.
Weekly: High volume ultra wide spread up bar. Weakness appears on UP bars, tighten your stops if long.
Daily: Market moved up on reducing volume, narrowing of spread = weakenss. The highest selling volume
since the uptrend has appeared. Tighten stops on your long positions.
Daily: Broke previous high but closed in middle of bar, supply was present = weakness.
H4: Market went up on diminishing volume = weakness. Testing the previous rotation (grey box)
Entry will be based on price reaction at these levels.
Long (Test and Accept) | Short (Test and Reject)
4550
4530
4481
4455
4415
4378
4346
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