ES Hammering to the Upside 7/18/2020
This is the ES at the 4 hour view.
Judging by the price action, the ES seems to be hammering that resistance away (red dashed line). The VIX is breaking minor supports below. However, the VVIX is implying higher volatility.
This is usually a set for a pop higher then a pullback.
There is a gap between 3250-3327 which has not been filled from February. I think that's the ES' destination this whole time.
What will it do when it fills that gap? That's the big question there.
Judging by the price action, the ES seems to be hammering that resistance away (red dashed line). The VIX is breaking minor supports below. However, the VVIX is implying higher volatility.
This is usually a set for a pop higher then a pullback.
There is a gap between 3250-3327 which has not been filled from February. I think that's the ES' destination this whole time.
What will it do when it fills that gap? That's the big question there.