$ES: Bouncing Back to 4,399 As Expected

$ES #ES-mini #trading setup #Elliott Wave

Yesterday in my evening report I concluded that ES-mini hit an important support at 4,370 and should produce a bullish bounce on Friday:

“The EMA 21 Weekly calculated based on lows is located at 4,391. My base case scenario is that bulls will try to close a week tomorrow OVER or at that level.”

On the chart below you can see that ES-mini dropped under strong support green band 4,415-4,399 and now is bouncing back up to re-test that level from below:

On a micro scale that move up has a clean corrective -a-b-c- up structure:

This move up should stop either at 4,399 or 4,408. A break over 4,408 would invalidate that bearish scenario.

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$NQ: Two paths I will be watching for a corrective a-b-c- up bounce off the Monday low

$NQ #NQ #trading setup #Elliott Wave #a-b-c bounce Two paths I will be watching for a corrective a-b-c- up bounce

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$ES: A Wild Full Moon Party that only muddied the waters further

$ES #ES-mini Yesterday Es dropped as expected but did not hit the target 2 = 5,973.50. Then we got a

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