You expect we sell off from here (or a bit higher) then? My take - For the record, the diamond formation on ES and SPX daily is now completed. It spans over more than 2 months, pointing to continuation. Meaning very sharp sell off from this level (likely) upto 910 area (less likely). The drop will last about a month (1/2 the diamond duration) to 2. p.s. That is also the reason why I care about the uptrend line on daily so much ... it has to hold to break out of the diamond formation, which in turn break the daily down trend.
trying one more long here at 79, stop under 76, target 88. thanks ammo, I have been called much worse and nuts is not all that unfitting.
Did you not notice the large buying on each dip. Huge volume everytime price bars had a strong close. I saw that coming from a mile away and needless to stay star still got a better price than i did
First target for a diamond continuation is usually the swing low from the up trend line that got broken ... So we may see 825 as soon as today or tomorrow. The fed result from this afternoon can break us out of this down trend if 910 is taken out decisively.
10min chart. In fact thats the only time chart I use and its only for measuring volume and where it comes in. Everything else is an actual volume chart.