SP 500 Technical Analysis and Forecast Renko Chart 5/28/21

Overview Technical Analysis and Forecast The SP 500 FUTURES stayed above 4200 on Friday and traded in a very tight range. Based on the Renko chart technical analysis and forecast, things have not changed much since Thursday, 5/27/2021. The Renko chart uses a traditional 6-point brick size. On the upside, 4224 / 4230 is the… Continue reading SP 500 Technical Analysis and Forecast Renko Chart 5/28/21

SP 500 Technical Analysis and Forecast Renko Chart 5/27/21

Overview Technical Analysis and Forecast The SP 500 FUTURES traded lower overnight, but moved sharply higher during the U.S. session. It looks as though it has finally stood firmly above 4200. Based on the Renko chart technical analysis and forecast, things have looked better to the upside. The Renko chart uses a traditional 6-point brick… Continue reading SP 500 Technical Analysis and Forecast Renko Chart 5/27/21

SP 500 Technical Analysis and Forecast Renko Chart 5/26/21

Overview Technical Analysis and Forecast The SP 500 FUTURES traded in a narrow range today. Neither the bulls nor the bears wanted to make a move. It was confined between 4180 and 4204. The immediate resistance 4200 needs to be broken in order for the bulls to push the price higher. After 4200, 4230 will… Continue reading SP 500 Technical Analysis and Forecast Renko Chart 5/26/21

SP 500 Futures Renko Chart Technical Analysis 5/24/21

Overview Renko Chart Technical Analysis SP 500 FUTURES traded below the strong resistance level, 4176, during the overnight sessions. Shortly after the U.S. open, the bulls pushed it higher. It firmly stood above 4176 and then raced toward the next resistance level, 4200. It closed slightly below 4200; however, there is a very good chance… Continue reading SP 500 Futures Renko Chart Technical Analysis 5/24/21

SP 500 Futures Renko Chart Technical Analysis 5/21/21

Overview Renko Chart Technical Analysis SP 500 FUTURES was once again unable to break above the strong resistance level at 4176 and ended lower for the day. During the overnight sessions, it was confined in a 20-point range. Shortly after the U.S. open, it reached 4184; however, it ran out of steam. From that point… Continue reading SP 500 Futures Renko Chart Technical Analysis 5/21/21

SP 500 Futures Renko Chart Technical Analysis 5/19/21

Overview SP 500 FUTURES was unable to break above the strong resistance level at 4176 and fell below the important support zone, 4128 / 4110, decidedly yesterday. The selling pressure continued today. It reached as low as 4056 before it bounced off the low. It did break below the uptrend trendline briefly, which connected the… Continue reading SP 500 Futures Renko Chart Technical Analysis 5/19/21

SP 500 Futures Renko Chart Technical Analysis 5/17/21

Overview SP 500 FUTURES consolidated below 4176 within a very narrow range. The bulls need to break the 4164 / 4176 resistance zone in order to continue pushing the price higher. To determine the trend, support and resistance, I use the Renko chart technical analysis and patterns for today’s analysis. Not much has changed since… Continue reading SP 500 Futures Renko Chart Technical Analysis 5/17/21

Update on SDS Buy-Write Strategy Covered Calls

Overview On 4/12/2012, I initiated a buy-write strategy covered calls with SDS, ProShares UltraShort S&P500. The ETF was acquired at a cost of $10 per share. The covered call contract was written at a cost of $0.55 per contract. The stock’s cost basis was $9.45. What Happened It wasn’t a good setup. On 4/12/2021, the… Continue reading Update on SDS Buy-Write Strategy Covered Calls

SP 500 Futures Renko Chart Technical Analysis 5/14/21

Overview SP 500 FUTURES continued the strong rebound from the recent low 4030. In 2 days, it has risen 145 points from 4030 to 4176, or 3.6% The buying power was indeed in full force. 4164 / 4176 was expected to be a resistance zone where SP 500 Futures bulls must reclaim in order to… Continue reading SP 500 Futures Renko Chart Technical Analysis 5/14/21

SP 500 Futures Renko Chart Technical Analysis 5/13/21

Overview SP 500 Futures rebounded sharply today because of the short term oversold situation. In addition, it got the support from the uptrend trendline that connected the two lows, 3246 and 3756. Technology shares were particularly strong and bid up sharply higher after the recent sell-off except Tesla, which continued to move lower. Again, the… Continue reading SP 500 Futures Renko Chart Technical Analysis 5/13/21