The post MDA SnapShot: E-Mini S&P, Bears Taking Control? 12/7/17 appeared first on Daniels Trading.
December E-Mini S&P – Multi-Profiles – Sell Zones
CLICK IMAGES TO OPEN CHART CONTENT
Breakdown of Today’s Update
Published 12/7/17 8:30 am central:
We have seen bears beginning to try and take control over the last couple sessions and the most recent move lower. We are seeing on scanner 2 of the 4-time frames bearish. We had a weak overnight and the bears have a chance to push this further if we are able to break 2 key levels. The 4-hour bottom boxes and the Daily bottom boxes.
If you are bullish today, you will want to have stops below the 4-hour bottom and use that as your defensive line.
Outlined on the chart we are showcasing sell orders in line with the 4-hour bottom zones. We are seeing bearish confirmations that show there could high probability chances of this moving lower. However, keep in mind every bearish longer-term setup has been short-lived with large buyers stepping in. Keep that in context.
The other area to look to short is the 5 min top boxes @ 2631 level as a failed breakout attempt to move higher.
Review the setups on the chart and if you have questions let me know.
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Below the updates, you will see the original charts showing buy/sell zones
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