Window dressing by fund managers who were underweight equities
would trigger a cup handle pattern
breaking the trendline of the pattern is around 4600 on the #ES
I could also make an argument for HVF pattern we have a high 3 in place
A recession will no doubt rear it's head at some point ... but a blow off top first to hand bears a beating is definitely a scenario I have shared before.
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Approaching the neckline @ 4580
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New High's incoming.
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5005
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5077
that time extrapolation interestingly puts us around the weekend of the 24th of August let's keep a mental note of that.