Technical Analysis S&P 500 (e-mini) for the week of 2/4/2019

My voice is messed up from allergies so it’s a little soft in the video. Basically, I am moving to a bearish stance due to the setups that have started in the S&P 500. The long setup is just about complete and there is much more room to run to the downside. Hopefully, the price goes up to 2,819 before the retracement happens. If not then we are looking at 2,405 as the current exit for the short setup.

Recap

Where price currently stands there is a small time frame move to the downside with the exit being 2,650. For the 1 hour chart, there is a longer-term short setup using the lightning trade. If the price goes up and hits 2,818 then the exit for the pullback will be at 2,612.

But if the price doesn’t go up and hit 2,818 then the current exit is at 2,405. So for next week, I am more bearish than bullish on the S&P 500. More long setups need to happen but they won’t until the short setups get completed.

If this post benefits you and if you haven’t used Robinhood for trading stocks but are thinking to then please consider using my referral link when you do sign up: http://share.robinhood.com/evanc203. 

This way each of us will receive a free share of a random stock if you sign up through my referral link.

My Robinhood Review:  https://evancarthey.com/review-robinhood-trading-service-with-no-fees-part-1/