endtimetrader4w

ES market technical analysis

Long
CME_MINI:ES1!   S&P 500 E-mini Futures
Overall price is moving to its completion of the larger VP. The market is on its ATH and we are working on expectation using FIbs @ 1.61 extension. Means, whether the market pull back on its initial wave 1-2 and PB is 50%, we can expect up to 100% extension. But since market is not showing any weakness and VP is not yet complete. 1.61% extension is the next possible PT and expect resistance at that level.
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