Getting a touch over sold at this point ... Broad bull channels are bear flags until they prove they are not by breaking up. For now ES is simply oversold, but a follow through down trend from here I would expect to test the $3520's and below there the $3490's. This does not affect the $3828 upside target as price can take any path it wishes to get there.
I like this. A wicked RED candle piercing the previous day and nice gaps all the way to@160. Oh, and nobody is ordering any new planes for their fleet.
Stocks hitting all time highs, smart money confidence indicator near all time lows. Courtesy: Sentiment Trader
You remind me of the old group that I used to hang around over a decade ago where we used Stockcharts & SentimentTrader's charts to gauge market sentiment. From your analysis and charts that you post on this journal, I've a feeling that I might know you