ES Potential Bear Channel Measured Move to 3400

Short

Micro E-mini S&P 500 Index Futures (CME_MINI:MES1!)

Updated

CME_MINI:MES1! Micro E-mini S&P 500 Index Futures

We have been in a bear market since the beginning of the year. I do not see any letting up. It is looking like 2008 all over again. Here I see a bear channel pattern almost setting up for a measured move back to 3400. A 500-point move. ONLY if I can see a strong close under the trend line.

Comment:

I have both a long idea and a short idea. I will see what the market will tell me by showing its hand. Whichever set up I see forming I will take. Right now I am sitting on hands.

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