Today is the 3rd day of the daily slow stochastic re-embedding in the ES E-mini daily futures, as in the chart below. Price is still above the 18-day SMA so the bias is still up.
The sole active up (green) fractal was hit. There are three local active down (red) fractals and numerous gaps below the market. Up progress can still be made by triangle or diagonal. Downward progress could only be made at this point by a failure top (today) but this is less likely.
Have an excellent start to the evening,
TraderJoe
ES/SPY (CFD) 4-Hr: we do have one form of valid triangle in the after-hours; and yes, the triangle can expand more, and take more time, so it might make sense in the cash market tomorrow, too.
ReplyDeletehttps://www.tradingview.com/x/DIF83IZl/
TJ