Well, it’s been frustrating trying to understand the markets. The overnight rally appeared bullish in the morning, but completely reversed a bit deeper than I wanted to maintain a bullish view. If today ended as a green daily candle near the highs, then the setup would be there for a year-end rally. We got really close with that green candle appearing in the morning, but it completely reversed.
Yesterday we closed at 2126 – and today we closed at 2126 — except in between we went up as high as 2143 only to close at the lows of 2126.
The only count I can have to maintain this view is shown below – with us hitting 2124 ES overnight into Monday. However, if that level does not hold, then something else is playing out.
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