A Few Morning Notes: $ES, $NQ & $RTY

I will make three technical observations, one for each of three U.S. indices.

The S&P has broken below its triangle structure, and seems to be retesting it from beneath (green arrow). If that fails, I would expect us to go much lower over the coming days.

ES

The Nasdaq 100, never actually lost its triangle (green arrow), and so we will have to see if it actually can do that. If the S&P rejects its triangle, the Nasdaq should lose its.

NQ

And the Russell, after losing these important prior highs, is back between them. I wouldn’t particularly expect it to stay in here, but we will have to see.

RTY

All in all, not much I can say just yet. But I wouldn’t expect this drop to be complete. Eventually I do hope to revisit the June lows.


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