S&P 500 Futures Before opening bell

• ES Hour chart is showing support around 1240 levels.
• Positional longs are safe if price continues to trade above 1240 levels.
• Four hour time frame is showing negative divergence with MACD indicator. But price confirmation is necessary for trading based on divergence. If price breaks out above 1252 Divergence may disappear. If price gets resisted around 1252 and gives a correction we may see the effects of negative divergence.
• DOW JONES ANALYSIS AFTER CLOSING BELL