HNY and the ES overnight look - SPX500

2023년 1월 3일

Happy New Year to all! So with the new year we have a more complex correction structure. The "bear pennant" is now broken to the upside but with no follow through on two attempts. On ES they touched the daily 18ma overnight and retreated. Also we are at a fib line of the pitchfork and a structural trendline which seems to be holding price back (blue line). I still expect a flush down to at least 3750 before a larger rally but if they can hold over these resistance points and especially hold over 3925 on an hourly close, it will look more bullish.

2023년 1월 3일

노트

what I'm watching at open.

2023년 1월 3일

노트

blue line was rejected, market is aware of it

2023년 1월 3일

노트

back to bear pennant trendline, they are trying to hold it but I think it breaks. Let's see...

2023년 1월 3일

노트

broke under and backtest, objective short to at least the lower line of the pennant.

2023년 1월 3일

노트

still watching this bigger picture for /ES

2023년 1월 3일

노트

so far 18ma on daily and BBs shaping this perfectly.

2023년 1월 3일

노트

Vix Daily BB at 24.20 area, weekly 18 at 25. Should be a magnet

2023년 1월 3일

노트

lower barrier of triangle reached. buyers will probably try to hold this. again I think it fails.