Here is an hourly chart of the March S&P e-mini futures. I last commented on this market here.
Today's opening hour is a wide range down bar. The low is at 1416.25, just a little below the low edge of the 1417-19 support zone.
I think this wide range, high volume bar will prove to be an exhaustion bar. The 1416.25 level should then not be broken by more than a couple of ticks. The next swing will carry the market upward into the 1437-39 resistance zone.
1 comment:
Don't you feel the dips in SPX are getting to be too shallow? Smells like desperation from the people who've missed the rally and are trying to push the market higher.
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