Possible move to the yellow arrow, this line was touched in 2022 and 2023. If it’s a large pullback, then possibly to the bottom line. These are great buy areas.
As posted last weekend, the convergence of two parallel channels had finally met at the 5695-5700 zone. (Shown in the yellow box area). As mentioned, shorts would be difficult until ES loses a support. ES continued higher at the beginning of the week, but soon lost its support. The short opportunity presented itself for those who were awake when ES lost its...
We are now at the new red channel top that began in October 23 and blue channel top line intersection at approximately 5694. Previous test of the blue top line was in DEC 21. This saw a 22% decline.
Could that happen here? This is a possibility, but we are still trending up. Shorts normally aren’t taken at tops, but when we lose supports. We continue...
