$ES #ES-mini futures #trading setup
In my previous update I noted:
“I think that gap up tonight that hit 4,240 target 2 is a completion of the subwave a up.
I would expect a consolidation in between 4,240 and 4,186.”.
This is path for the expected consolidation:
This is how that chart looks like now:
Here bulls have a setup to start a push higher either off 4,189 or 4,178.
4,156 is a critical support (66.7% retracement). Break under that level would be a strong warning for bulls.
$ES $NQ This morning CPI numbers came out higher than expected. That triggered a bearish spike: NQ-mini 120 min chart
$ES #ES-mini ES-mini has stopped right under the Red Box yesterday. Bears keep ES under the Monthly Resistance 6,103. That
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