Breakout - Now Comes Follow Through Attempt. March 21st Chart & Plan

On Friday, traders got an excellent lesson in what a textbook technical breakout looks like. For over a month, I’d been discussing a triangle pattern in ES, with the resistance being a picture-perfect trendline (red in the below chart) extending from the January high down through the February high at 4370. On Friday, we broke it, and the rally we saw was the result.

While many non-technical analysis people were by confused by the size of this, for technical analysts this move is precisely you’d expect on a break of a line like this, and if anything - conservative. The question of course is, what now? The common sense answer would be we continue higher but markets tend to make things difficult. Here’s what I’m looking for tomorrow and into the end of March