As a mental exercise, been thinking...Now with the huge Fed move down, a whole lotta' the HODL people taking their profits for the year, (or now staving off losses by selling), has the selling frenzy finally ended? Remember what happened a year ago starting around now in 2017...A steady decline until just after the New Year holiday, and BAM! A full month of straight-up. I can't believe it is almost a year since the first shake-up in early Feb 2018. Where has the time gone?
Now, I am looking closely at the extended session, this price area is now key. This could be a huge opportunity for the bulls or for the bears, very interesting situation.
ES did bounce off resistance and continued downward. Bulls trying to recover during late afternoon, will they recover ?.
Now i am wondering if ES will retrace to 2519 price level to form a double top near that area to continue then its way downward, I am thinking about this. At this time looking at the 4 hours chart...
Market in sideways mode, I was hoping for ES price to come back up to 2519 price level. I am still looking for some kind of a retracement.