Looking at the Daily down trend of ES, along with the support and resistance levels, one could hypothesize the falling wedge pattern working through, with a huge confluence of the wedge trendline and Pre-Pandemic Highs coming together to create the breakout bounce that could start roughly the end of July/Beginning of August, and pushing through August.
Historically speaking, July and August are relatively stronger months in comparison with September being one of the weakest in ES, providing for a great opportunity to have September 2023 as the backtest of the falling wedge pattern, and ultimately the beginning of Q4, Monday Oct 2nd, as the start of the reversal pattern.
ES1!
Historically speaking, July and August are relatively stronger months in comparison with September being one of the weakest in ES, providing for a great opportunity to have September 2023 as the backtest of the falling wedge pattern, and ultimately the beginning of Q4, Monday Oct 2nd, as the start of the reversal pattern.
ES1!
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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.