ES/SPY Weekly Levels (Dec 17-30)

Quick shot of the levels for the ES on this XMas week. Still watching the 50% Fib level. Price currently trapped between that and the ema cloud. If the level fails a move down to the Jun 17th low and the the Oct 13th low below that. The ES is showing relative strength, but is caught in chop mode. The thin trading during the holiday week make trading more difficult. Good time to focus on improving your process and getting ready for the new years.

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Hanging on to that 50% fib zone. 3788 is key. Below that I would expect a move down to the June 17 low. ES is showing relative strength held up by the not tech defensive sectors like healthcare.