djgavia

Is it time for a pullback on the /ES?

CME_MINI:ES1!   S&P 500 E-mini Futures
The /ES has certainly been pretty strong and active. Looking at the upcoming week, I will be looking for a reversal going into a pullback. Why? I have taken a channel from the latest gains and placed it at the latest similar recovery. I am not saying we are due for a reversal next but exhaustion has to be coming into the minds of other investors. Also, I set up an approximate, by Fibonacci retracement, to see where I would possibly be comfortable buying if I see enough relief on the Stoch RSI.


Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.