Broad Stock Market Futures Outlook for May 15, 2018

Failure to break higher and a test of lower support have caution lights showing in the current bullish formations. The first pass dips into support zones will likely find buyers.

Repeated failure to breach or hold highs will indicate more downside likely. If you are looking for good swing setups, it seems more prudent to allow these charts to come into support in big time frames to minimize risk.

S&P 500 Futures

Resistance holds steady as we look for higher support to hold- Holding above support above 2713 remains important. The bullets below represent the likely shift of trading momentum at the successful or failed retests at the levels noted.

  • Buying pressure intraday will likely strengthen with a bullish retest of 2736.75
  • Selling pressure intraday will likely strengthen with a bearish retest of 2723.75
  • Resistance sits near 2734.5 to 2742.25, with 2752.75 and 2764.50 above that.
  • Support sits between 2724 and 2716.75, with 2706.5 and 2697.50

s&p 500 futures stock market may 15 trading chart analysis

NASDAQ Futures

Higher lows prevail on bigger time frames but the failure to breach resistance is a yellow caution light as we saw the moves into the regions below 6944.  Buyers will still support us below but dips may be deeper depending on the strength of motion as we come into 6928. Volume profiles give us a strong chance of fades into these low auction spaces.  The bullets below represent the likely shift of trading momentum at the successful or failed retests at the levels noted.

  • Buying pressure intraday will likely strengthen with a bullish retest of 6974.75
  • Selling pressure intraday will likely strengthen with a bearish retest of 6928.5
  • Resistance sits near 6971.25 to 6987.5 with 7012.75 and 7026.75 above that.
  • Support sits between 6939.5 and 6929.5, with 6914.75 and 6896.5 below that.

nasdaq futures stock market may 15 trading chart analysis

WTI Crude Oil

Bounces still give us higher lows – The levels near 71.11 stand as support once more.  Below 70.48, sellers will likely become more aggressive.  The bullets below represent the likely shift of trading momentum at the successful or failed retests at the levels noted.

  • Buying pressure intraday will likely strengthen with a bullish retest of 71.9
  • Selling pressure intraday will strengthen with a bearish retest of 71.11
  • Resistance sits near 71.9 to 72.33, with 72.62 and 73.27 above that.
  • Support holds near 71.51 to 71.15, with 70.78 and 69.62 below that.

crude oil futures stock market may 15 trading chart analysis

 

Twitter:  @AnneMarieTrades

The author trades stock market futures every day and may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

 

Not Investment Advice – Please read investment disclaimer.