For a year and half, half of Twitter and many of the other analysts I follow pointed out structures like these day in and day out. And now? Silence.
So, let me point this one out. Much like $RSP (here), $ES may be interpreted as having formed a head and shoulders topping pattern. Our “right shoulder” is—right now—at the height of the “left shoulder.” The measured move of this pattern coincides closely with where I would expect wave 3 on the next decline to take us to (isn’t that weird that it always does that?)
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