June 25, 2020
SPX initial downside focus is 2888, which is 2 legs down from the June high and a well-defined horizontal level. Notice how price churned around the red line on this chart for most of June before turning sharply lower today.
Jamie Saettele June 25, 2020June 16, 2020
I’m thinking that ES carries into 3110/37 before encountering stronger resistance for another leg lower. The zone is defined by the 61.8% retrace and underside of the line that crosses pivots (high and lows) since 2018 (red line).
Jamie Saettele June 16, 2020June 12, 2020
Finally something else besides ‘melt-up’. Index action in 2020 is basically straight up or straight down. Once the market picks a direction, it goes quickly in that direction without much of a counter reaction. In ES, pay attention to 2976 for a bounce. If it does bounce, then note 3065 for resistance. IF a larger reaction materializes (which would be a change) then 3137 should provide resistance.
Jamie Saettele June 12, 2020