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….
Category: Stocks
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…
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…
SP 500 Futures Renko Chart Technical Analysis 5/12/21
Overview SP 500 Futures fell more than 2% today because the CPI numbers shocked the market. The CPI was up 4.2%, which was higher than the 3.6% expected. The more important Core CPI was up 3%, which was higher than the 2.3% expected. The Renko chart technical analysis below was…
SP 500 Futures Renko Chart Technical Analysis 5/10/21
Overview SP 500 Futures fell more than 1% today because the market was overheated recently. The Renko chart technical analysis was used to illustrate the support and resistance zone for SP 500 FUTURES today, 5/10/2021. The Renko chart uses a traditional 6-point brick size. On the upside, 4224 / 4230…