After yesterdays extreme rally, ES is cooling off today as expected, which is good to see. We clipped yesterdays 4715-4720 target, overthrew on momentum, now back down. As posted multiple times this week - this is a catalyst heavy week and the final of 2021. FOMC yesterday which certainly delivered movement, and then it is also OPEX week which means keep your guard up until tomorrow and focus on protecting this weeks gains above all. The trapping and vol may not be done. As always though, the chart is my guide, and the important thing I am watching now remains the month long inverse H&S pattern I wrote about yesterday. As of writing, its faked out the neck-line a little. Here’s what I’m watching now (chart & analysis below)
© 2024 AM Trade Companion Inc.
Substack is the home for great culture