Very little changed technically or in terms of levels from my last update but thought I would send out a quick afternoon update here to reflect some detail on the recent price action. After this weeks large rally ES consolidated above 4700-4708 but after 5 tests finally cracked as of writing now, and predictably we saw a fairly quick flush down. This is not ideal for bulls, but not the end of the world yet and as of writing price is back *yet again* at the 50dma. What happens in next day or so has large implications for the next few weeks, but is actually quite simple technically. Chart and analysis below
© 2024 AM Trade Companion Inc.
Substack is the home for great culture