Presented is my reasoning why 4200+ is likely this week coming or next. Having said that any push up to 4200+ will be a wonderful short opportunity. I compare where the market is now to where IWM was in it's 2020 consolidation and why RSI is important to look at for "breakouts". I hope it's helpful
Good luck!
Good luck!
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overnight there's been a breakout of the downward channel, I expect a retest and then higher for the day.
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test of channel. We could be in a larger ABC, if so - this may be happening.
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so far looks good for a C up, then we may have a bigger sell off after before the final run up. SO more time wasting.....
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good morning, chopfest continues. B wave has been extended. It's still pretty low on the houlry rsi, so I expect a move up today for a C wave.
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some economy numbers at 10am today us.econoday.com/byweek.asp
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closer view
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channel test at open, should be support, we'll see.......
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we're still holding here, 1hr rsi on the floor in futures...
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lower trendline reached rsi is very low on mid time frames...
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ES has reached the daily BB, usually a support area.
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2 hr rsi divergece should get us a rally today for a B wave, then C down.....
