ES 2 hour chart update.

ES currently in this descending channel (green) AS WELL as the bear flag pattern (blue). It has falsely broken out of both patterns, which is confirming my bear bias at the moment. We can be in for a world of hurt into February OPEX if bulls don't take charge over both patterns within the next two weeks.

Right now, the trading range seems to very very wide, so it's easy for anybody to get shaken out. I'm still looking for a decisive push past 4600 with consolidation then a push further to confirm that we're back onto ATH's. If not, we can definitely retest the lows of January...