es 5-23 update

good evening,

spx500 is not looking so hot anymore.
currently backtesting the midline of the descending channel, which is also in confluence with a major level.

failure to push above 3950, and the spx500 will continue to spiral down.

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on a positive note, we have some bullish divergence starting to print; perhaps a few more pokes at the lows, and we'll be able to get a definitive reversal.

ความคิดเห็น:

if es could get back above the midline of this bear channel, we could see continuation for a week or two.
thenext few days are important.

if a successful breakout takes place, i will entertain it from this perspective: