I Will Be Watching to See Whether $ES Has Entered Distribution

The high on $ES on Sunday night may have been the “buying climax” of a distribution range. If that is the case, then further upside should be limited to minute (blue) 5. Afterwards, we may drift lower in a series of ones and twos that may be difficult to detect before the markdown phase begins. That’s the plan, anyways. (Crosses fingers.)


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