hankchef
Short

Touching .786 resistance, expect a retrace before any rally

CME_MINI:ESM2016   S&P 500 E-MINI FUTURES
51 0 2
0. Review
Called for lower than 2026 retrace.
Called for higher than 2040 rally.

1. Analysis
Simple and stupid: touch the .786 resistance(at 2052.5ES to 2054 ), a correction may happen tomorrow or before this weekend.

2. Tonight's call
possibly break the resistance within 5 points, then retrace.
Always allow some buffer for any support or resistance, ES is traded by the most competitive traders in the world, don't expect it conform strictly to formalized TA).

Happy trading and enjoy the bear party this week!

- Hank
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