As we have shown over the last several days, the ES futures currently appear to be wedging in an up trend. It is difficult to say that a wedge is over until key lengths are exceeded lower.
Yesterday's break of the initial wedge line still looks like a three-wave affair. So, the lower wedge line has been redrawn. Two key lengths to watch are the lengths of the 02 Jan down leg, and the 18 Dec down leg. Only if these are exceeded might it possibly have downward implications.
GOLD (futures GC) have been wedging on the two-hour chart, and the wedge was recently broken lower. Key lengths need to be monitored here, too. A GC 2-hr chart is below.
Have an excellent start to the day.
TraderJoe
potential exp diagonal forming in AMZN since the November low
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