ES/SPY Weekly Levels (Oct16-20)
Here's a look a the levels I'm using this week for ES.
Rejection last week off the 618 Fib and 55 ema. Started the week with a run into the 618 again and has been rejected once more pulling back into the 9/21 emas.
Key support at the Feb 2nd high and 200 SMA. A break of the lower trend line would be bearish.
A move above the 618 would put the Aug 16th high in play to the upside.
Many Fed heads speaking this week.
Earnings from TSLA and NFLX as well as banks.
Rising yields Tuesday night have the market on it heels again.
War may cause extreme volatility over the coming weeks.
Rejection last week off the 618 Fib and 55 ema. Started the week with a run into the 618 again and has been rejected once more pulling back into the 9/21 emas.
Key support at the Feb 2nd high and 200 SMA. A break of the lower trend line would be bearish.
A move above the 618 would put the Aug 16th high in play to the upside.
Many Fed heads speaking this week.
Earnings from TSLA and NFLX as well as banks.
Rising yields Tuesday night have the market on it heels again.
War may cause extreme volatility over the coming weeks.
