Overview Renko Chart Trading The previous high of the SP 500 FUTURES at 4,470 proved to be the immediate support that propelled the futures higher on Friday. In addition, the Fed chairman’s Jackson Hole speech reinforced the notion that reducing bond purchases would be reasonable by the end of the…
Month: August 2021
SP 500 Renko Chart Trading and Technical Analysis 8/26/21
Overview Renko Chart Trading The SP 500 FUTURES has been rising. It has been on a steady ascent since it plummeted to a low of 4,347 on August 18, 2021 and reversed, and it has yet again displayed a phenomenal V-shape reversal. The recovery was remarkable, and futures prices reached…
SP 500 Renko Chart Trading and Technical Analysis 8/19/21
Overview Renko Chart Trading Since Monday, August 17, 2021, the SP 500 FUTURES has been on the decline. Since the index changed direction, the latest high of 4,476 has remained the highest point. The daily Renko chart trading pattern continues to reflect a positive trend that has now reached a…
SP 500 Renko Chart Trading and Technical Analysis 8/10/21
Overview Renko Chart Trading The SP 500 FUTURES has not moved much since the July job report last Friday, although it has quietly creeped upward. The recent low of 4,380 remained as the first line of defense if the index reversed direction. The daily Renko chart trading pattern continues to…
SP 500 Renko Chart Trading and Technical Analysis 8/5/21
Overview Renko Chart Trading Since Monday, the SP 500 FUTURES has been zigzagging between 4,370 and 4,422. The lowest point was 4,365. The level of support at 4,370 has proven to be solid. It closed at an all-time high today, despite being only a quarter point higher than the previous…
SP 500 Renko Chart Trading and Technical Analysis 8/2/21
Overview Renko Chart Trading The SP 500 FUTURES began the day higher and remained there for the majority of the day, but then reversed course and closed lower. The record high of 4,422 was maintained, and the consolidation pattern continued. The daily Renko chart trading pattern clearly shows a positive…
SP 500 Renko Chart Trading and Technical Analysis 7/30/21
Overview Renko Chart Trading On Friday, the SP 500 FUTURES did not reach a new all-time high. The record high of 4,422 was maintained, and the consolidation pattern persisted. It traded in a narrow range between 4,370 and 4,405 all day on Friday. The daily Renko chart trading pattern plainly…