Stock Index Futures At Trendline Support

The /NQ & /ES (Nasdaq 100 and S&P 500) E-mini futures have now fallen to the recently highlighted 60-minute uptrend lines. I still favor a breakdown below those trendlines although the odds are good for a reaction on this first tag from above since Tuesday.

While it is hard to gauge just how far any bounce may go, if/when both of those trendlines give way my initial price targets would be 2783 & then 2751 on /ES and 7061 & 6995.50 on /NQ. The previous (Tuesday's) & updated 60-minute minute charts below:

click on first chart to expand, then click on right of each chart to advance to the next image. Once expanded, charts can be zoomed & panned for additional detail.

2018-11-09T09:15:51+00:00Nov 9, 2018 9:15am|Categories: Equity Market Analysis|Tags: , , , , , |0 Comments

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