20050630 Moving avg support finally broke, and with CCI going below zero, have a short signal, target should be the 34 ema 1188.
E-mini S&P 500 chart
Chronicle of trading in ES S&P 500 index futures using momentum indicator CCI. Charts by www.futuresource.com. Note: The content here are for educational purposes only. Nothing in this blog constitute advice to buy or sell financial instruments and should not be construed as 'investment advice'.
20050630 Moving avg support finally broke, and with CCI going below zero, have a short signal, target should be the 34 ema 1188.
20050629 Profit taking continues. Mov avg 58.6 provides esistance. Can look for resumption of trend trade with move above this level and a ZLR pattern.
2005069 Downside momentum still there, not out of danger yet. In fact Shamu sell could trigger.
20050628 CCI went back above zero, so it seems ES is out of immedite danger. However might look for CCI move below zero again to resume weakness.
20050627 Down move pauses with the doji pattern at the moving avg. CCI momentum still signalling possible further weakness. Needs turn back up above zero line to bring it out of danger of further down moves.
20050624 Strong move down continues, closing at mov avg support. Next level of support comes in at 1183, the 34 ema, momentum is strong to downside, with CCI going below zero line.
20050623 Sometimes the signls trigger one day late. A good beak downwards, this might continue for a while, given the market has 'coiled the spring' for few weeks now.
20050622 False breakout from the insede day of 23/06. Ended up creating doji for the day. Maybe tonight the market will overcome the indecisiveness and breal the 1216-22 range.
20050621 was an inside day. If the ES breaks out today 1223 or break down 1216, we might see a trend day progress today.
20050620 ZLR still in play. Exit long if CCI falls below 50. Needs CCI to break through +100 for more decisive move up.
20050617 Daily chart CCI coming of a ZLR showing strong momentum. Candle for past few days indicte some buying interest, so looks like could continue breakout next week.