Market Analysis for May 5th, 2020
By
Zac Mannes
The 100% for the yellow "Pirate Ninja" in SPX targeting 2744 off the HOD. I would count that as a wider 4.
ES can easily count though as 5up into 2889. 2820-2800 is support for something more immediately bullish (like maybe the start of a green 5 of (1)...)
The yellow "Pirate Ninja" in ES projects lower b/c it made a lower low on Sunday night so the measure of the move is larger.
290.65xx & 293.32xx are still nasty lines of SPY block resistance. & we need ES back over 2960s now to get PSAR back to bottom dots. We have held Daily cloud support so far though.
Nano looks like a small Pirate Ninja could try to turn down from ~2875.
@ES# - Primary Analysis - May-05 1726 PM (1 hour)
@ES# - Nano Counts - May-05 1922 PM (1 min)
@ES# - Nano Counts - May-05 1924 PM (5 min)
SPX.XO - Micro Counts - May-05 1929 PM (15 min)
@ES# - Alternate 1 - May-05 1930 PM (1 day)
