And to add to the thought from a few minutes ago, other indexes have potential for a drop as well. $NQ carries the same “flat” count I’ve been using for $ES, and has a nice ending diagonal look here locally at the top:
And $RTY has retraced its initial drop to an appropriate place (regardless of whether it’s a two or a B):
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 months), 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, Tier 1 members ($20/mo.) get access to the articles, Tier 2 members ($35/mo.) get access to those, plus counts on about 20 other instruments, plus Discord server access.