Tuesday, August 20, 2019

S&P 500 & Nasdaq 100 Futures Pause At 20-Day MA's

Both the E-mini S&P 500 (ES) & Nasdaq 100 (NQ) are showing resistance at their 20-day MA's. Both have bumped-up against their respective MA's yesterday and yet again intra-day today. The 50-day MA is rising and is located near last week's highs, just above current price-action for both metrics. A bearish harami is setting-up but will require subsequent weakness tomorrow (Wednesday) to confirm a shift in momentum to the downside.