ES Tests 200d SMA and Bounces

The NQ is well above both the 200d EMA and SMA and is the strongest of the Dow and SP. It's sitting comfortably inside its' regression channel at the bottom end. Next week will determine if it breaks lower to the downside or moves higher.



This week the SP was weak; It broke down later in the week, and tested the 200d SMA. It is already below the 200d EMA. It failed to close below it on the first test. ; The 200d EMA was tested for two weeks before finally breaking down. ; I'm watching this level closely. Failure at the 200d SMA would mean a deeper pullback for sure.



The Dow or YM is below both the 200d EMA and SMA ; It's a weaker index. The NQ is the strongest of the 3 indices.