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I had a great looking setup in play last night, and I did the chart and saved it with some confidence that we would see an extension of the rally into the 2090 area today, and then fail into the H&S target at 2054/5. That setup was supported by an IHS that broke up yesterday morning, and clear declining resistance from the highs at the IHS target. That chart is below. SPX 15min chart:
Well, what a nice morning to wake up to – – a wall of red and assets falling all around. Huzzah! Those who watched me on Tastytrade yesterday may remember I specifically pointed out the topping pattern on the ES. This has worked out great, although the measured moved is only a few points south of here, so I may close up my big DIA short just to be done with it (but keep everything else).
