Ultra-brief post, to confirm that as the ES keeps rising and rising, the odds for a trend reversal are nearing very extreme limits.
Here below you can see a table where we have highlighted the fact that if today the market would close up it would be a quite rare event (7 days up in a row).
The next type of event, 8 days up in a row, is even rarer, it happened only 31 times in history.
And 9 days up in a row happened only 12 times in history.
All this means that from a TIME point of view, the passing of time is very stretched, very few trends last for more than 7 days, so the odds to go SHORT are excellent.
The other indicator that we want to share is the HOURLY SHORT: you can see that 1826.75 has been reached, 77.05% odds to go SHORT and the DAILY is beyond 92.73% odds.
Don’t lose your faith, a SHORT reversal is behind the corner, probably tomorrow or Monday at latest.