$ES: Bounced and Got Rejected: Bears Got A Setup for a Drop

#ES-mini #trading setup #Elliott Wave #Running Flat

In my Weekend Update I shared expectations for a corrective bounce:

ES-mini, 240 mi chart posted on 6 Aug 2023

My conclusion was:

“…if we get a bounce up to 4,535 AND if that move up stalls right under the red box that would be a super sweet short setup for a quick deep dive down to 4,415 with likely extension down to 4,385 or even 4,370.”

On Monday ES-mini pushed up in a corrective a-b-c up structure, has tagged the Red Target box making a lower high and then turned down strongly.

That corrective a-b-c up bounce off the low made on Friday afternoon is a decent short setup.

To invalidate the short setup and trigger a short squeeze rally bulls need to push ES over 4,545.

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$ES: Bullish Reversal Setup: Inverse Head and Shoulders

$ES #trading setup #bullish reversal This morning I correctly predicted a pullback after the pre-market rally. After that pullback bulls got a charged Inverse Head and Shoulders pattern, a reliable bullish reversal setup: We can

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$ES: Hit The Target Box and Popped with Gusto

$ES #ES #trading setup #Elliott Wave In my afternoon update yesterday I noted that ES was going to make another push down and that drop would be th efinal squiggle of the whole move down:

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