Category: S&P

S&P futures (ES)

closed at 756.25

Monthly – still have the 716 target.  672 immediately below. divergence at the lows

weekly – 613 next target; but rising momentum and divergence suggests conditions are right for a retracement up inside this down move. 

daily- 724 next down target. pressures still hard down. need a close back up thru 786 to start the retracement.

Intraday – 726 next down target.  all indicators completely oversold, could cure overnight.  a trade thru 769 would trigger a trade to 795.

ES targets

I have a confluence of weekly levels and daily down side targets.  805, 775, 764 on the weekly.

daily – 773, 765 and a cycle end on 11/26.  861 will start a retracement

intraday levels need to trade up thru 830 to start a retracement.

ES Daily

multiple downside targets in the 818-829 range, beginning to see pressures turning up.

863 long Entry Price has been hit 910 next PO. This is a retracement in the current down trend.  need to take out 1008 to change trend.  But we can trade inside this down move.

ES 11/16/08

next down side target is 716.  a monthly close above 994 is required to start a retracement up of this downmove.  upward pressures in time and showing divergences here at these lows.

weekly is trading across both buy and sell entries.  currently in a sell to 764.  pressures are coming off, with divergences at the lows.  a trade thru 927 will restart the up trade, 1st PO is 1032.

daily- we have traded up thru the Entry Price to the 1st PO of 909 which stopped the move.  selling pressures are extended down. upward time pressures for three days then down into the end of the cycle around 11/26.  Friday’s late day downturn has come down to test the 863 up EP.  if that does not hold then the next downside PO is 821.

the night session Sunday will provide clues

 

es-monthly2