Hello everyone!
With the market making all time highs, I believe it's time to take a step back and view where the market may go. Right now, the S&P E-mini futures are breaking the all time highs with greater volume from when they were set back in May of 2015. With that in mind, I believe that if the /ES can hold that as support, we're heading higher. If that doesn't happen, I think we'll continue trading in the range with the support being the blue shaded box area and the resistance area being the solid trend lines.
After this week and next, we'll have a clearer picture of where we're headed.
-Bearstobulls.com
With the market making all time highs, I believe it's time to take a step back and view where the market may go. Right now, the S&P E-mini futures are breaking the all time highs with greater volume from when they were set back in May of 2015. With that in mind, I believe that if the /ES can hold that as support, we're heading higher. If that doesn't happen, I think we'll continue trading in the range with the support being the blue shaded box area and the resistance area being the solid trend lines.
After this week and next, we'll have a clearer picture of where we're headed.
-Bearstobulls.com