Monthly ES1!

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The US stock market is looking rather iffy at the moment so tonight I thought I would take a longer term perspective of the US stock market and see if there where any technical reasons why. I notice right away we just hit a significant fib (127%) extension of the previous trading range. While I am not calling a top, I fully understand why the market would top at this level. Until I see OBV roll over I will consider the current market pullback nothing more than a consolidation. Should it break I would be looking for a gap fill (near the '1st stop' 38.2 fib) and then ultimately for a move into the OTE             long sweet spot.
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