ES1 - Tame Black Friday or Dump IncomingUS Black Friday is known as quite a tame day with shorter hours...
But its worth noting that S&P Futures has reached the retracement Golden Window - an area where corrective action often peaks.
And its slightly above a significant resistance - in the higher liquidity zone.
So this is setting up for a potential Head & Shoulders Pattern.
When I refer to an H&S I do not at all consider that we can use it to judge downside - that theory is a nonsense in my opinion.
But it is a pattern that may lead to a pull back.
For now there is no price action to suggest a slump, but lets watch out for it because this is an ideal area for one if this move up proves to be exhausted.
If it does slump then high octane positions may be affected and there may be dips buys, but very deep buys may have relative buoyancy and hold.
This is a neutral post for now - we'll see how it develops 🧐.
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research before making any trading decisions.
