Emini S&P Enters Daily Bull Flag Support Zone Finally Jan 4, 2016

By Lawrence

Afternoon Update: When everyone screaming the sky is falling, have you wonder why Emini S&P has bounced back up all afternoon? Here is the reason.

image

Daily level bull flag support zone tagged today from above. Reaction on first touch is normal, purely chart reading 101.

 

Now close up view here.

image

I am not saying Emini S&P has found its swing bottom. In fact it has to clear the green line above and stay above on weekly closing basis to force a run back up to the bull flag resistance way above at 2070s at the moment.

The daily bull flag support zone is a very wide range thanks to volatility at these extremes. S&P cash index going down to 1950s to 1960s can still happen if the sell shock is not contained by tomorrow.

 

Trade what you know, not what you think. Join me at my real-time commentaries for precise real-time analysis of Emini.

Share

  • You must be logged in to comment. Log in