$ES Bull Bear Counts

I lack sufficient evidence to have strong conviction one way or another.

Here is the bearish $ES count.

Supporting evidence:

Contradicting evidence:

  • $OIL looks ready to rock.
  • PCR is high here, indicating that everyone may be trying to fade this rally.

ES


Here is the bullish $ES count.

Supporting evidence:

Contradicting evidence:

  • It’s a shamefully small minute (blue) 2.
  • Likewise from above, if Bitcoin is set to puke, equities should follow.
  • The two most obvious ways to read $AAPL here still suggest to me that its next move should be down, not up.
  • Likewise from above, strength in bonds should pull liquidity from equities.

ES


Gun to the head, if I had to pick, I still favor down before up.


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