The symmetry in this chart of the ES is eerie--almost too perfect. I'm looking for a little bounce right now to 1132-1134 and then a nice drop maybe to S2, or, perhaps a low volume melt-up to finish the day:)
[EOD Update: 4:12 PM]
ES stalled a bit over the final few hours of trading. My thesis is unchanged, and now further supported by the imminent bear cross of the 50/50 MAC. I think we may be in for a nice down day bring us to 1112 [1116 cash is the 200dma] - 1118 [38.2% retrace of the 1000-1144 move] range.
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