Yesterday, we said the probability of staying over the upper Bollinger Band today had roughly dropped to 3 - 4%. Today closed back inside of the band.
|ES Futures - 1 Day - Back inside the Upper Band|
If price continues to drop, this could be an excellent location for the Minor B wave. A good sign of confirmation would be trading below the local up trend line - shown - from A to minute ((b)). One issue is that the daily slow stochastic is likely embedded. So, another good sign of confirmation would be the red line of the slow stochastic trading back under the 80 level.
Have a good start to your evening.