ES Mini: Will it Try for Another Move Up?

YES and No. 

• Yes, because SPX chart favors for a new move high and that ES needs to break previous highs and record new ones to confirm the bullish rally (see charts below).
• No, because there are 5 clear moves up from the February low and the last days correction completed 5 moves down (see charts below).

Last Friday we wrote ES Mini: Did It Top? and discussed what the market must show us in order to consider the top:

“In order to have a high probability confirmation of a top, we need to see a 5-3 structure.” – ES Mini: Did It Top?

The 1st part of the ...Read More