Right Shoulder in July?

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In dollar terms, this is the best day I've had in months. And the beauty part is that this kind of trading is easy – – I just go through my positions and tighten up the stops.

To be safe, I've taken on a long position in /ES (20 contracts) with a stop below 892. We might firm up from here and get back above 900. But in the coming weeks, we may carve out a right shoulder in a pattern which has already completed a left shoulder and a head. A break below the neckline at ~870 would send us down below 800. It's worth keeping in mind.

0623-hs