Assessments / Blog

ES #F Is the market getting ready to roll over?

Our longer term projection shows a possibility of the market to be vulnerable. Our longer term projections come in at 2576.75 and 2455.25 if the market stay below 2878.25. We are near to the breakout of the triangle drawn from the January 29th high on the Daily chart, Volatility is increasing and the ES is showing weakness against all major instruments including:

SPY/XLU (SPY versus Utilities)

LB/GC (Lumber versus Gold)

ZB and TLT (20 and 10 year bonds)

HYG (Corporate Bonds)

On the Daily chart attached a comparison of the strength to the above show the ES strength is now below the 20 day moving average compared to ALL.

The wide range bar on the 13th look like an up thrust and closed near the bottom after penetrating the previous day and the swing high of the 27th of February. If Volatility continues to increase and substantial down wave volume develops we can be in for a substantial ride down.

Caution should be taken when taking longs in the following days and weeks.


The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading.

Trading Forex, Stocks and Options, Futures and any Cryptocurrency, Commodity or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith.