Overview Use SP 500 Futures Renko chart for the 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…
Month: May 2021
SP 500 FUTURES RENKO CHART Sees 4220 Strong Resistance
Overview What Happened The market gapped higher today and had a very strong start. Tesla spent all day in the red losing 3% or so, but Apple performed well. Dow had a good day and was the strongest of all 3 major indices. NASDAQ was very weak throughout the day….
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 shoulders formation is building….