If ES can close this week above 2495 I wouldn't want to be short anymore!
Here the midpoint is the split between the two consecutive green up weeks we had on Oct. 29 and Nov. 6 (circled). Price also bounced off the 2460 zone today (also circled), which was an important zone in Sept. last year - it was the launch point for a significant rally.
I'm cautiously buying but will want to see how this week closes tomorrow before entering more longs/covering more shorts.
Here the midpoint is the split between the two consecutive green up weeks we had on Oct. 29 and Nov. 6 (circled). Price also bounced off the 2460 zone today (also circled), which was an important zone in Sept. last year - it was the launch point for a significant rally.
I'm cautiously buying but will want to see how this week closes tomorrow before entering more longs/covering more shorts.
Note
Same setup here zoomed into the daily chart - note the doji standing out here as a good potential midpointNote
Keeping an eye on my recent 10-yr bond post... it's also in the reversal zone and a significant top here would align well with a significant stock market bottom
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.