$ES #Macro #Double Three #one more high
Under the bearish micro scenario ES-mini has topped. But bears need to confirm it by breaking under support 4,098:
Yesterday bears failed to break under support and that allowed bulls to counter attack.
Nothing inspires bulls for a rally more than failure of bears to break under support.
Let’s now look for a bullish alternative count:
As long as bulls hold ES over that support 4,098 they will remain in control and will be able to push ES higher to tag the Red Target zone.
Bulls have a setup to push ES-mini up to 4,240 – 4,260.
The Wednesday low becomes a micro support 4,121.25. A violation of that level will be the warning red flag for bulls. At this point I would significantly cut all long positions.