S&P500 - 1st bullish expansion after strong test of absorption

Panjang

Hadapan S&P 500 E-mini (CME_MINI_DL:ES1!)

CME_MINI_DL:ES1! Hadapan S&P 500 E-mini

supportandresistance supplyanddemand economiccycle

After the farmer strikes, the bearish iwf news from 30st of january the bearish cutting of a channel was absorbed as you can see by the expansion of the distant lines. The duration in lower areas was quite low and getting lower and lower as for now. Actually (after the CPI report) we get the lowest reading since weeks. the big money is taking oportunity of low prices, rotation is taking place.

on the right you can see a 2h creek, it got broken to the upside and we can see a little expansion after the test of a very strong potential ice line (like David Weiss would call them).

I think we will see market breadth going up the next days. The german market looks great .

Best Luck for You all :)
good tradin' <3

Penafian

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