CNotes1234

S&P 500 futures battle on the brink of dominate bear territory.

CME_MINI:ES1!   Futures E-mini S&P 500
Things are looking bearish, but a close above the yellow upward support slope can delay a bearish overtake... Multiple supports have and are being tested since channel broke. I'm watching a daily close in reference to the yellow upward slope and predicted support below. A small downtrend resistance that was broken through in early November may prove as a support if bear momentum continues. Overlay of the ichimoku cloud shows a bearish T/K cross, though still very tight and range, so not yet definitive. A tight H&S is also visible on the daily, but it may prove to go in bull favor. Chart posted is on a delay and will look back at price movements in the coming hours/days for further analysis. Close below 2650 area is fuel for bears.
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