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SP500 climbs ahead of Fed decision

Posted on January 26, 2022 Written by Chart Prophet

e-mini SP500 futures have recovered to a stronger position above the 4394 control as investors await the latest announcement from the US central bank.

As noted on Friday, the major poc is at 4394. Value Areas on Mon and Tue were generated entirely below that level which is a weak position. Since the low on Monday that poc was probed twice, see chart, but pre-RTH today ES has printed time above it. Bulls would want to see that level (now Support) hold on a test.

In the ST, there is minor Support (8day) at 4359.

click chart to enlarge

Filed Under: emini SP500 (ES)

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