Post Symmetrical Triangle Break Out S&P500 Chart
|1 min ES|
1266 failed as buy programs came in the last hour or so. you can see the volume increase in the chart above around 2pm, this is the same time yesterday we saw volume increase. though yesterday the volume was on the sell side. today it was jubilation. Anyway the real focus here is the symmetrical triangle which formed over the course of this morning with this afternoon presenting a break out of the range.
1255 is still support and 1266 resistance. Crude remains quite after the pit closed though is falling under 101 as i type this. Dollar remains resilient despite a few Euro spikes today.. DX remained 78.55.
Headlines are moving the index’s so be aware. keep your trading size metered and your finger over the trigger.