Two Hypothetical Chart Patterns for You on $ES

My expectation is that we continue this correction for a bit on $ES. My present expectation is that it will not be terribly severe. I’m speculating a lot here, but:

  • If we turn lower now, look for the possibility of a bull wedge coming into being, or
  • If we go a little higher, but can’t quite take out the highs, then turn lower, look for the possibility of a bull flag.

These are of course contingent upon us not shooting up to all-time highs now and also not destroying that trend line below. But, I like to imagine these when I can in advance, so I’m not scrambling to discover them once they’ve already completed.


(Ignore the “Y=X” on the chart as that is an alt count I have in mind for the correction, in case it turns out not to be an A-B-C, but something more complex)

Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.

Leave a Reply

Your email address will not be published. Required fields are marked *