SP 500 FUTURES RENKO CHART Technical Analysis 5/7/21

Overview SP 500 roared today because the weak job numbers will keep the FED on its toes. The easy money policy will continue. I used the SP 500 Futures Renko chart for forecast and technical analysis today, 5/7/2021. The Renko chart uses a traditional 6-point brick size. 4200 was cleared today. It closed at all… Continue reading SP 500 FUTURES RENKO CHART Technical Analysis 5/7/21

SP 500 FUTURES RENKO CHART Analysis 5/6 – Buyers Wanted

Overview Use SP 500 Futures Renko chart for forecast and technical analysis today, 5/6/2021. The Renko chart uses a traditional 6-point brick size 4176 was cleared by the fierce late rally in the day . On the upside, 4200 / 4206 is the next hurdle. Given the Dow hit record highs 2 days in a… Continue reading SP 500 FUTURES RENKO CHART Analysis 5/6 – Buyers Wanted

SDS ATM Covered Calls Update – A Buy-Write Strategy

Overview This is about the SDS stocks I bought and sold the SDS ATM Covered Calls. This is a buy-write strategy. Purchased SDS at $10 per share and sold the 6/18/21 $10 Call at $0.55 per call on 4/12/2021. SP 500 closed at 4128 on 4/12/2021. What Happened SDS is ProShares UltraShort S&P 500, which… Continue reading SDS ATM Covered Calls Update – A Buy-Write Strategy

SP 500 FUTURES RENKO CHART Analysis 5/5 – Rebound Wanted

Overview Use SP 500 Futures Renko chart for forecast and technical analysis today, 5/5/2021. The Renko chart uses a traditional 6-point brick size 4176 is the immediate resistance and has been retested since the European session. On the upside, 4200 is the next hurdle should 4176 is cleared. On the downside, 4128 is the next… Continue reading SP 500 FUTURES RENKO CHART Analysis 5/5 – Rebound Wanted

SP 500 FUTURES RENKO CHART Analysis 5/4 – Pullback Expected

Overview Use SP 500 Futures Renko chart for forecast and technical analysis today, 5/4/21. The Renko chart uses a traditional 6-point brick size 4176 has become the resistance 4128 is the next support level Late rally might push the price higher tomorrow What Happened SP 500 Futures began to show weakness right after the New… Continue reading SP 500 FUTURES RENKO CHART Analysis 5/4 – Pullback Expected

SP 500 FUTURES RENKO CHART Sees 4220 Strong Resistance

Overview Use SP 500 Futures Renko chart for forecast and technical analysis today The Renko chart uses a traditional 6-point brick size 4176 remains a strong hold today 4200 seems difficult to crack Major economic data coming this week What Happened The market gapped higher today and had a very strong start. Tesla spent all… Continue reading SP 500 FUTURES RENKO CHART Sees 4220 Strong Resistance

SP 500 FUTURES Closed above 4176 Support but the Downside Is Threatening

SP500 FUTURES closed above the support level of 4176, which is good for the bull; however, 4180 is very close to the 4176 support.  In essence, it posts some ambiguity at the moment. On the hourly Renko chart below, it looks like a small head and shoulder formation is building. If 4176 support holds, the… Continue reading SP 500 FUTURES Closed above 4176 Support but the Downside Is Threatening

SP 500 FUTURES Stays Afloat above Support 4176

SP500 FUTURES closed down. The market awaits Powell’s reassurance. Powell is expected to state the same comment:  No inflation.  Keep buying bonds.  0% interest rate. FED to maintain its dovish stance. More than likely, the indexes could move higher after the announcement. The S&P 500 closed a tiny bit in the red today.  The FOMC… Continue reading SP 500 FUTURES Stays Afloat above Support 4176

SP 500 FUTURES Formed a Bullish W and Can Climb Higher?

On both daily and hourly charts, the W formation is appearing; however, the confirmation is not quite there because the index failed to close above the previous all time high.  Maybe Monday will be the day to confirm the W. 4176 is key.  It will either become the support or the resistance.  We shall see. … Continue reading SP 500 FUTURES Formed a Bullish W and Can Climb Higher?