Feb 8th – ES

  • Posted by Houssine
  • Date February 8, 2022

Price action has been so range bound that we can not make progress in our analysis. Having said that, I should admit that trying to label the SPX Cash impulsively is truly a challenge. I have added the Guppy Indy so you can see how all the moving averages are currently tight and the resolution of this nut will likely make a huge move.
Prices will need to start printing soon below 4464 and then break 4434 to have confidence that that expected huge move will be to the downside. Conversely, printing above 4438 will produce a buy signal with the power to take prices all the way above 4600

Houssine

Prof. Aldo Lagrutta is an awarded Certified Financial Technician from the International Federation of Technical Analysts and holds several financial market designations, including the coveted Certified Elliott Wave Analyst.

He is a also a member of the Society of Technical Analysis, holds the CFT’e and is a recipient of the Bronwen Wood Prize bestowed by the Society of Technical Analysis in London.

Prof. Aldo Lagrutta grew up as a music child prodigy and became the youngest Professor to teach in several universities and conservatories around the world. He performed for 2 decades as a concert guitarist in Europe, Africa, North and South America.