S+P 500 Futures "Rally Highly Suspect"

S+P 500 Futures Price Rally
to start the new week of trading overnight on 5/20 is, to my eyes highly suspect,
and offers a patient short seller a major opportunity
to position and sell the rally, prior to,a potential major break in the retracement pattern.

Rally has the potential to reach 2880 if shorts continue to cover,
so being patient is the key here.

My own interpretation of the 4 Hour S+P 500 June 2019 Contract,
suggests a later breakdown below ES 2854,
could open up the pattern, to a downside move,
at the minimum, retracing back to the ES Low of 2799.75 of last week.

4 Hour RSI, shown here, also reveals the bearish interpretation,
of the current price rally.

ES Last 2870.00

THE_UNWIND
5/20/19 425 AM EDT
NEW YORK

Comentarios:

Getting up early, and doing your homework really pay's off,
in the almost 24 hour trading of stock index futures round the clock.

60 minutes after I wrote this post,
S+P Futures June ESM have dropped 13 points,.. very quickly,
the exact move I was telegraphing in this analysis.

2857.00 Last.

THE_UNWIND
5/20/19 525 AM EDT
NEW YORK

Comentarios:

S+P Futures have broken Very Important Pattern Support at 2854.00,
on the back of the reversal pinpointed above,
and are now trading below 2850.00

ES Last 2747.25

THE_UNWIND
5/20/19 525 AM EDT
NEW YORK

Comentarios:

5/20/19 625 AM
Posted Time Above

Comentarios:

23 Point Profit on Short Position from ES 2870
1 E Mini Contract
= $1150.00 Realized Gain Per Contract

THE_UNWIND
5/20/19
NEW YORK