November 13, 2012

ES Update

  • ES Bulls trying to stay above 200 Day SMA.
  • 2nd chart shows price below the neck line of the head and shoulders pattern. Neck line may act as resistance if retested.
  • Weekly chart shows price below the broken up trend line.

S&P 500 Futures Chart analysis


  • ES one hour chart is showing price contraction which should lead to a bigger move.
  • Any up move will be bigger only if price is able to cross the 200 Day SMA which is shown in the last chart.