ðĪ Is It Time For Another Major Market Correction? (SPX)
CME_MINI:ES1!
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ðĻ Let's take a look at the emini futures contract on a 6 hour chart. Is this the start of another major correction or will the fed save us all!?!?!?
We currently sit under 3 major levels of Resistance from the previous major market correction to the upside.
Horizontal top and the 2 upward red previous major support levels, which are now acting as Resistance.
The 6 hour is compressing with a flat doji on the Crossover strategy.
The ema dots are beginning to shift red.
Lower timeframes showing lower lows.
If you are long than you need to be very careful here.
Would not be surprised to see a selloff happen.
Have an awesome trading week! ð
ðĨMLT | MAJOR LEAGUE TRADER
We currently sit under 3 major levels of Resistance from the previous major market correction to the upside.
Horizontal top and the 2 upward red previous major support levels, which are now acting as Resistance.
The 6 hour is compressing with a flat doji on the Crossover strategy.
The ema dots are beginning to shift red.
Lower timeframes showing lower lows.
If you are long than you need to be very careful here.
Would not be surprised to see a selloff happen.
Have an awesome trading week! ð
ðĨMLT | MAJOR LEAGUE TRADER
