Stocks Forming Significant Bottom
Updated
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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