Slope of Hope Blog Posts
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Death of One of the Four Horsemen
One Chart Post (by Springheel Jack)
I'm unexpectedly going to be out almost until the market opens today, so I'll just post one ES chart to show where we are now. The bounce I was talking about yesterday into declining resistance on ES has completed overnight so the question is whether we break up from the falling wedge today, or break down towards wedge support. I've marked up the trendlines and targets on the chart:
I'm leaning slightly towards seeing a break up today, but not with any great conviction. We'll see which trendline breaks. The Gap Guy likes the odds for a gap fill today, but if we see that then we'll obviously be breaking downwards and we'd most likely see more downside into Monday if that's the case.
