Pennant on ES decides our fate
Updated
Wherever this goes, whether it breaks up (as expected) or down decides.
A break down of this pennant means no new ATH for bulls.
A break up means we see 3180-3220 easily and then time to pile in heavy short.
Remember, we just had a guy flash a 2000 lot ask limit at 3125 for several minutes before pulling it then reappearing with 600 at the same 3125 level once price came back up again.
I'm a permabear too so be fair warned.
A break down of this pennant means no new ATH for bulls.
A break up means we see 3180-3220 easily and then time to pile in heavy short.
Remember, we just had a guy flash a 2000 lot ask limit at 3125 for several minutes before pulling it then reappearing with 600 at the same 3125 level once price came back up again.
I'm a permabear too so be fair warned.
Note
Note
Bulls should not have lost that, they had everything going in their favour, a bull flag/pennant.Bulls are tired out, bag holders from yesterday's morning reversal are going to tap out and sell hard tomorrow.
Perfect, bad unemployment numbers Thursday, OPEX quad winching on Friday, bad revised Q2 GDP numbers early next week. This is a trifecta storm in the making. I would not want to be long right now.
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