dereckcoatney

ES! Head and Shoulders Topping Pattern

Short
CME_MINI:ES1!   S&P 500 E-mini Futures
I'm weary of calling the top to this bear market rally, but this looks as good a place as any. We had been relentlessly charging up in a rising wedge, and then overthrew it in a sign of late-stage buying exhaustion, forming and head and shoulders pattern in the process.

We have now broken the neckline of that pattern as well as fallen beneath the rising wedge, all very good signs for the bears.

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