Skip to content
  • Home
  • US Market Updates
  • Indicators
    • Impulse Master
    • Cycle Trader
    • GANN Levels
    • Subscribe
  • Education
    • Beginners Video Course
    • Intermediate Video Course
      • Syllabus of the Course
    • Trading Like A Pro Video Course
    • Video Lesson of the Week
  • Chat Room
  • Pricing
  • FAQ
  • Home
  • US Market Updates
  • Indicators
    • Impulse Master
    • Cycle Trader
    • GANN Levels
    • Subscribe
  • Education
    • Beginners Video Course
    • Intermediate Video Course
      • Syllabus of the Course
    • Trading Like A Pro Video Course
    • Video Lesson of the Week
  • Chat Room
  • Pricing
  • FAQ
  • My Account
  • Login

US Stock Indices

Crude Oil and Gas

Setups in Stocks

Gold, Silver and Miners

CastAway Trader - Premium Trading Chat Room
CastAway Trader Predict the Next Market Move

Subscription: US Stock indices

ES - I still maintain bearish bias despite that strong spiky move up on Friday

I was convinced ES-mini topped in subwave -c- of wave ( b ) up at 4.230 on June the 1st.
Then bears managed to break under the first micro support and confirmed the top was made.
I expected ES to bounce back over the broken support but I did not expect that bulls make a new higher high.
But they managed to make a slightly higher high last Friday.
Can we consider that new high as the top of the same corrective wave ( b ) up.
I think we can.

ES - 240 min chart updated at 6-06 PM on 6-06-2021

Actually I witnessed such a crazy structure many times before.

Let me show one of them below.
We can see a very similar structure on a weekly DXY chart.

Wave ( B ) up looked perfectly completed, bears pushed down and broke under support,

And then bulls came back up and pushed DXY to a new higher high in one strong move up.

I saw similar unnecessary spiky moves making higher highs many times before.(edited)

I can stick to that bearish count as long as ES holds under the previous high made at 4,238.25.

If bears manage to close this overnight session under the previous high 4,230 that would look like a fake breakout on Friday.

DXY ( US Dollar index) Daily chart

15 Day Trial - Premium Trading Chat

Try for $19.99

Previous Updates:

No posts found.

Important Disclaimer

CastAway Trader LLC, the publisher of this web-site and videos is not registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of the website www.castawaytrader.com and viewers of the videos are advised that all information presented on the website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user’s particular investment needs or objectives.

Trading stocks, options, or futures carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your objectives, financial situation, needs and level of experience. CastAway Trader LLC provides general overview of trading methods that does not take into account your objectives, financial situation or needs. The content of this website must not be construed as personal advice. All trading setups and/or trades presented in the web site and/or trading chat room by CastAway Trader an/or by other members of the chat should be considered hypothetical for educational purposes only and should not be expected to be replicated in a live trading account.

An investor could potentially lose all or more than the initial investment. You should not speculate with capital that you cannot afford to lose. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style.

You should be aware of all the risks associated with trading. You should seek advice from an independent financial advisor.

Any information posted on this web site is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of the website must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. All opinions, analyses and information posted on the website are based on sources believed to be reliable and written in good faith, but should be independently verified, and no representation or warranty of any kind, express or implied, is made, including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, CastAwayTrader LLC and its officers and employees undertake no responsibility to notify such opinions, analyses or information or to keep such opinions, analyses or information current. Also be aware that the owners, officers and employees of the web site www.castawaytrader.com may have long or short positions in securities that may be discussed on the website, Premium Trading Chat room and/or in the videos posted by CastAway Trader LLC.

Past results are not indicative of future profits.

Read my Blog

© 2026 CastAway Trader • Built with GeneratePress