Horizontal of Babylon

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I keep mentioning that line at 2825, but actually the anchor point of the line, drawn well before today, is 2824.25. Anyway, this morning – – as usually seems to be the case – – the ES went roaring toward the line again, and boing, it was repelled.


I find myself talking to my screen: “Would you just FALL already?” (Yes, it’s sad, I know). Anyway, as I’ve marked on the intraday ES chart above, we’ve been making a steady series of lower highs, but by God this market is annoyingly resilient.