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last: 2,693.50 +49.00 (+1.85 %) |
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BULL 2 |
range envelopes ⓘ |
last range signal |
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timestamp: April 7, 2020 3:03 am |
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long-term |
↓ 2174.00 to 3,125.75
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01-Apr-20 |
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range: 2,623.50 to 2,695.00 |
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intermediate |
⤴ 2,424.75 to 2635.75 |
06-Apr-20
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volume (avg):
201,387 (2,669,175) |
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short-term |
↑ 2484.75 to 2668.50 |
TODAY
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trend |
stop/reverse |
trend start |
trend start date |
net change |
last signal |
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long-term |
▼ 3,125.75 |
3,169.75 |
25-Feb-20 |
+-15.02 % |
01-Apr-20 |
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intermediate |
▲ 2,634.50 |
2,634.50 |
06-Apr-20 |
+2.24 % |
06-Apr-20 |
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short-term |
▲ 2,525.00 |
2,525.00 |
06-Apr-20 |
+6.67 % |
TODAY |
▲ E-Mini S&P 500 Futures Option is rated BULL 2, the second stage of a new short-term uptrend progression in an extended long-term bear market. The short-term and intermediate trends have both turned up but the long-term trend remains bearish. The number that must be taken out to move to the next level of bullishness is long-term trend resistance at 3,125.75. In a continuing long-term bear market, sellers will typically step in at or near that number—but in a strong reversal rally, that resistance will eventually give way as new buyers expecting higher prices and the start of a long-term bull market emerge. ▼ A confirmed Top-Spotter signal was generated February 20, 2020 at 3386.25. Price has declined -20.5 % since. The current signal will be invalidated if price trades above 3386.25.
► The intermediate timeframe is currently in play. (Click the
'Intermediate'
tab above to see detailed intratrend signals and charting).
The chart to the right displays the current daily
price bar along with color-coded lines (green is bullish,
red is bearish) representing the three primary trends
(ST=short-term, IT=intermediate, LT=long-term). The
blue dashed line indicates the previous closing price.
| long-term strategy |
stop |
target |
| long-term HOLD SHORT |
3,125.75 |
2,174.00 (LT range bottom) |
A range bottom rally alert for E-Mini S&P 500 Futures Option (ES) occurred at 2,174.00 on April 1, 2020. This signal is generated after the bearish momentum from a pullback that had previously expanded the long-term range to the downside has stalled. This can often be a very good early warning for a potential short-squeeze rally!
At least partial profit should be taken on an existing short position on a cross above the short-term stop/reverse line (currently at 2,525.00) and a trailing buy-to-cover stop should now be placed at 3,125.75 to lock in accrued profit for an existing short-trade.
It is possible for very aggressive long-term bulls to initiate a counter-trend long trade under these circumstances. The initial entry and exit is determined by using the short-term timeframe trend change 'buy' and 'sell' signals (click on the short-term analysis tab above).
▼ The long-term trend for E-Mini S&P 500 Futures Option turned bearish at 3,169.75 on February 25, 2020. Net change to date is -476.25 (-15.02 %). The recommended strategy is to sell short only when a favorable risk/reward ratio is present, and to cover partial positions to lock in profits as downside targets are achieved. System trading bias would switch from bearish to bullish on a cross above 3,125.75
✗ risk/reward ratio: POOR for a new short trade entered outside of the ideal entry zone
✗ ideal entry zone: 3,125.75 to 2,887.75 (currently outside)
• last range envelope signal: range bottom rally alert at 2174.00 on 01-Apr-20
*The long-term timeframe is of particular interest for investors, who are typically looking for a successful trade to be held for a period of months to years.
| intermediate strategy |
stop |
target |
| HOLD existing long positions |
2,634.50 |
2,726.00 (confirmed resistance) |
A intermediate range top breakout buy signal for E-Mini S&P 500 Futures Option (ES) was generated at 2,635.75 on April 6, 2020. Current price is not inside of the ideal entry zone between 2,635.75 and 2,658.25. The next target higher is confirmed resistance at 2,726.00. This momentum breakout/range expansion condition will remain in effect until a new range envelope counter-trend pullback warning signal appears (see 'last range envelope signal').
Existing positions may now be protected with a trailing stop set not lower than 2,634.50 (the intermediate stop/reverse line) or at your average position cost, whichever is higher.
▲ The intermediate trend for E-Mini S&P 500 Futures Option turned bullish at 2,634.50 on April 6, 2020. Net change to date is +59.00 (+2.24 %). The recommended strategy is to buy only when a favorable risk/reward ratio is present, and to sell partial positions to lock in profits as upside targets are achieved. System trading bias would switch from bullish to bearish on a cross below 2,634.50
✗ risk/reward ratio: POOR for a new trade entered outside of the ideal entry zone
✗ ideal entry zone: 2,635.75 to 2,658.25 (currently outside)
• last range signal: range top breakout at 2635.75 on 06-Apr-20
*The intermediate timeframe is the domain of the swing trader, who expects a successful trade setup to generally unfold over a period of weeks to months.
| short-term strategy |
stop |
target |
| HOLD existing long positions |
2,525.00 |
2,723.75 (confirmed resistance) |
A short-term range top breakout buy signal for E-Mini S&P 500 Futures Option (ES) was generated at 2,668.50 TODAY. Current price is not inside of the ideal entry zone between 2,668.50 and 2,682.25. The next target higher is confirmed resistance at 2,723.75. This momentum breakout/range expansion condition will remain in effect until a new range envelope counter-trend pullback warning signal appears (see 'last range envelope signal').
Existing positions may now be protected with a trailing stop set not lower than 2,525.00 (the short-term stop/reverse line) or at your average position cost, whichever is higher.
▲ The short-term trend for E-Mini S&P 500 Futures Option turned bullish at 2,525.00 on April 6, 2020. Net change to date is +168.50 (+6.67 %). The recommended strategy is to buy only when a favorable risk/reward ratio is present, and to sell partial positions to lock in profits as upside targets are achieved. System trading bias would switch from bullish to bearish on a cross below 2,525.00
✗ risk/reward ratio: POOR for a new trade entered outside of the ideal entry zone
✗ ideal entry zone: 2,668.50 to 2,682.25 (currently outside)
• last range signal: momentum breakout buy at 2668.50 TODAY
*The short-term timeframe is the realm of the speculator, encompassing trade setups that are generally held from a single day to several weeks.
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