The ES futures were lower over night, then traded higher at the open, and then made another new daily lower low around 15:30 ET, before rebounding to close narrowly mixed. The lower lows continue the down trending wave.
|ES E-Mini S&P500 Futures - 4 Hr - Lower Lows|
The ES daily slow stochastic is still embedded below 20, and the futures settled inside of the daily Bollinger Band, negating any prior lower closes outside of the band. In short, prices may be riding the band lower.
The whippy action during the day, and near the close is suggestive that a triangle might be forming for red wave iv, if it wishes to become longer in time.
Have a good start to the evening and to your week.