December 31, 2017

S&P 500 Year End update

  • Month Chart shows no weakness. Its been 14 Months since price broke below the Low of the Month. 
  • One note of caution is the Extreme overbought readings shown in Monthly RSI. Right now the reading is 82. But it has been like that for Many months now.
  • The Last week of 2017 is hinting some weakness. Previous Week was a Pin Bar like candle which got follow up in the current week. Bears need to break below 2650 levels to target 2600 and below.
  • ES One hour and 4 Hour bearish charts