ES correction and key levels to watch

Here is a breakdown of levels I am watching after the FOMC minutes pushed major indices lower. ES/SPX gave up the trend, can turn into sell the rally event if bulls do not recover the 4745 level fast and hold (not looking like it so far,) I am leaning toward a lot of volatility. Rest of the week will be difficult and big moves up down. Downside targets now adjust to previous lows. 4640/4615/4590/below that ES can sell to 200 day moving average at around 4400.

Thanks for watching.

評論:

We bounced off that 4590 level and rallied back above 4650. Now bulls are targeting 4700 - 4710. Above that level of resistance is 4745 a major spot that I would suspect gets sold. If we end up retesting 4605 and it breaks we could see a deeper sell to the 200 day.