Chart of the Day - Thursday, August 5th, 2021
August 5, 2021
Today’s Chart of the Day was shared by Yuriy Matso (@yuriymatso). It's a 1-hour candlestick chart of S&P 500 futures over the past two weeks. Yuriy points out that, S&P 500 futures have been stuck in a tight range between 4365 and 4420 for over a week now. We've tested and failed at the upper bounds of the range (4420) four times now. Will the fifth time be the charm? It certainly looks like it will be given the strong action into today's close. But price will need to follow through above 4420 in the very near term in order to confirm a breakout from this eight-day trading range.