Yep. Hoping it gaps down Monday so I can buy with both hands. Will be a buying opportunity regardless I think. I traded the full session today and never saw any panic or capitulation selling albeit slightly violent a few times. Impressive how controlled it was considering the indexes were down around 2 - 3 %.
Monthly trend remains up while weekly chart shows short term trend change. The short answer is yes, but maybe not immediately.
NOT A PREDICTION ES weekly has a nicely defined trading range here at the highs. Buyers have bought and sellers have sold exactly when and where you'd expect them to buy and sell. If this drops below 5880 to 6910, then I'd expect it to retrace to the lows of the trading range before buyers step in front again. If buyers can instead stop the drop before it retraces much more than half of the range, then the next attack on the highs should be the breakout to a new impulse leg higher. On the other hand, if sellers can get this to close below the lows of the range, then maybe we fill that gap between the close of the week of 9/9/2024 and the open of the week of 9/16/2024?
all 4 indecies last 30 days gains were wiped, good luck. here is the another date to watch https://www.bloomberg.com/news/arti...ing-forward-next-month?srnd=homepage-americas
That should read "5980 to 6110." Fat fingered the 5880. I'm basing this on the trading range that has been sitting pretty up here at the ATH's.