One Structural Observation on $ES

It is unclear to me how to count today’s consolidation on lower timeframes. It’s quite messy. I will need to wait before I can point to something I like (regarding a local count for today).

My general longer-term assessment remains favored, though until we see lower prices, the bullish view also remains possible.

However, I do want to point out this general structure. It’s not a great a look. I cannot guarantee that it will break down (though I worry that it may), but if it does, I have noted the target:

ES


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