Lower Low, Higher Close (LLHC)

The ES daily futures made a lower low day, along with a lower high, but swung around at near the end of the session to make a higher close. The daily chart is below. P.S. I'm not sure how this chart will look when Monday reflects the settlement, as the settlement might show a lower close as of 4 PM ET.

In any event, the lower low and lower high were enough to extend the swing-line indicator to today's bar. Price still closed below the 18-day SMA, so the bias remains down, and the 18-day SMA is still declining. The daily slow stochastic has recovered from an over-sold condition with both the %K & %D lines closing over the 30 level.

Again, note the upper Bollinger Band has dropped to join the 100-day SMA (green crosses), and this might provide resistance levels for the next rise.

The wave count is very overlapping since the low of 13 Mar, and it might suggest either a triangle or a diagonal in form. More waves are needed, either as additional lower low days to continue the down trend, or higher high days to make a turn upward.

Have an excellent start to the evening and the weekend,

TraderJoe