Saturday, June 15, 2024

ES Morning Update December 20th 2016


Once again I'm showing you the 6 hour chart to get a better view of the MACD's as on the 60 minute chart they have been hard to read as they bouncing up and down around the zero line.  So, as I suggested could happen the MACD's here are curling up giving the futures the breakout of the triangle.  This move up though is weak (so far at least).

It's again the "slow grind" moves that are common in light volume holiday periods.  Of course at some point we might see some stronger push as several different time frames align on their MACD's all pointing up, but it doesn't look like that's the cast today.  This grind can easily continue the rest of this year I'm sure as the holiday volume keeps the sellers away.

Anyway, there not much more to say today then yesterday.  I don't see anything huge on the upside but at some point is certainly seems possible that we'll hit 2300 on the SPX and 20,000 on the DOW.  Today is another day where only single people that are addicted to trading will be around to read this... LOL!

Author: Red

Related Articles


Latest Articles