Santa Takes a Break: Consolidation for the Next Move Continues. Dec 29th and 30th Trade Plan & a Warning
Quite literally nothing changed in ES since yesterday in this time and it *continues* to defend 4775 after multiple touches, with every bounce into this zone being bought so far. This is market dynamics 101, after a week of intense one way trend, price goes into disorganized, random chop. Pattern is a small bull flag forming on 1hr chart since yesterdays high, but I would not describe anything at this point as high conviction. Here’s what I’m looking at for the rest of the week. Chart & Plan Below