yauger

One more little push up and then we might go south for a while

CME_MINI:ESZ2016   S&P 500 E-MINI FUTURES
12 0 1
From the election night panic low, the Trump rally generated a nice impulse wave on the Globex Market that was followed by a very muted correction not even reaching a more acceptable 23.6% retracement suggesting we are not done correcting the Trump Wave. and actually the rally from Nov 11th is seen as part of that correction. Yes a rally within a decline. Even if you are not a waver, the market is wedging higher and that is not exactly the most bullish structure. We think once over it will lead to a sharp decline below 2148 and can go lower. We will update the chart once our expected decline is underway

For the wavers, as usual there's many ways to label short term price action and maybe my wave B of an expanded flat is over but just because seasonality suggest Thanksgiving week tend to see prices going up we presumed the wedge is not over. But we will let someone else try to catch the last drops of this rally.
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