SPX, S&P 500, ES, US500
The updates here are NOT REAL-TIME and meant for information only. For REAL-TIME updates, please SUBSCRIBE
ORIGINAL UPDATE TO SUBSCRIBERS - 28th Jan 2021
POSTED HERE TO NON-SUBSCRIBERS - 30th Jan 2021
[SPX Futures, ES, US500 Update] At a micro-level, SPX/ES has receded exactly from the key resistance at 3860-3878 shared in the daily indices update. It has broken the nearest key support and is now attempting a bounce off the next key support at 3675-3695.
That said, SPX/ES will need to surmount the newly formed key resistance at 3810-3825 to pull itself out of this micro-correction mode. Inability to surpass this level shall make the nearest key support at 3675-3695 vulnerable, a break of which shall expose the next key supports at 3550-3585 followed by 3460-3484.
At a macro-level, SPX/ES continues to operate in a larger degree bullish setup.
ORIGINAL UPDATE TO SUBSCRIBERS - 20th Jan 2021
POSTED HERE TO NON-SUBSCRIBERS - 26th Jan 2021
[SPX Futures, ES, US500 Update] Markets have witnessed a sharp fall earlier today on the back of the growing unease over the potential economic impact of a new COVID strain in the UK. Additionally, the "Buy the Rumor Sell the News" phenomenon related to the stimulus deal might have also contributed to the drop.
Technically, the micro-level plummet in ES has stalled exactly near the key support at 3590-3594 shared in the previous update and a bounce is currently underway. That said, ES/SPX will need to surpass at least the nearest key resistance at 3675-3695 if intends to recover from this plunge