SP500 update

ES Chart analysis

• Price testing channel support line in four hour time frame. Yet to close below the support line.
• Price seeking support at four hour ichimoku cloud.
• One hour chart shows price trying to hold above 200 Hour SMA. An hourly close below this level may extend gains for bears of ES.

PY Chart analysis

• SPY Four hour chart has given a shooting star pattern.
• Price is testing the rising support line. This one has to break for the shooting star or inverted hammer to perform well.
• Last chart shows price below 50 Hour SMA. Sustaining below this level may extend the fall for bears of SPY.

ES Channel update

• ES Hour chart violating crucial support levels.
• Price must break the channel support line for weakening the up trend.