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…
Tag: Renko Charts (Archived)
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 Renko Chart above 4176 Resistance
Overview Not very much has changed since last Friday. The market sentiment is still cautiously bullish even though more and more people expect the market to correct soon. In today’s SP 500 Futures Renko char, it is apparent SP 500 Futures closed at a all time high. It cleared the…
Uptrend Trendline Held Could Propel SP 500 Higher
Overview SP 500 continued to climb upwards. The uptrend trendline extending from 2191 to 3233 provided a solid support today. What’s Next One thing to note is the Parabolic SAR indicator is currently at 3857. The index is currently at 3942. Tomorrow, the Parabolic SAR will probably be at 3870 or…
Bollinger Bands and Renko Chart Indicate Resistance
What Happened S&P 500 Futures continued its upward correction from the recent high of 3959. From the all time high of 3959 to the recent low of 3720, 3868 is where the Fibonacci 0.618 level is. The chart below is the SP 500 Hourly Futures chart. In the following Hourly…