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ES poised for a volatile day

|Includes: SPDR S&P 500 Trust ETF (SPY)

We did not have follow through on the MACD buy signal, this could be due to the ES being overbought. After looking through the ES charts, it looks like it could be a volatile day...

This is my Daily Resistance chart for the ES, and the only thing I want to highlight here is that we have a daily MACD buy signal here, but no follow through, watch out if ES goes below 1140.75 (Stopgrabber Bearish)

This is my ES daily Support chart. Interestingly we have F5 support at 1140.75, if this support breaks, I expect stops below 1103 and 1077 to be taken out. i.e. New lows.

This is the 240m chart of ES, and there was a mini stopgrabber (bearish), and that signal has completed when stops below 1179.75 was taken out. Also note, 240m MACD buy signal at 1201.50, more on that later...

Above is the cash hours 60m MACD crossover which is at 1211.25 at yesterday's close...

This is the ES 30m cash chart, and it can be seen that the 30m K support at 1179 held. Also the 30m MACD buy signal comes in at 1192.25.

This is pretty advanced. There is this thing I call "the cascading MACD buy signal" effect, which work especially well when all the intraday buy signals are all close to stops. There are big juicy stops (belonging to traders that are still short) above 1212.50 and 1219, and I believe that it would be taken out today. Whether or not, it continues to go up or will we see a wash & rinse before the market does another leg down, I can't tell at this point, hence again let the intraday price action guide you.