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Ok, it's Sunday, having bit extra time on my hand I decided to look back to see the broader picture. And, here are my two
cents regarding the ES in a near future:
1. We have a very weak low from June and it need to be tested so the first drop will probably end slightly below previous low around 1250.
2. Looks like the divergence that is forming this year is wider than in the previous years suggesting that the final drop could be much deeper than anticipated.
cheers
Can you help answer these questions from other members on NexusFi?
1232 is a good number but, I think it should be more rounded number, like 1450 for instance.
why? -- the market took all that trouble to surpass 1400 and then to penetrate the April high, and that wider divergence that is setting up -- I think something bigger is forming, a more significant top.
I think we have our low at 1413.75
Of course it will be tested once or twice or even exceeded by few ticks -- all depends of where some traders going to put their limit/market stops.
I was at work at the time when the daily low was developing and I was thinking that if anyone is short this was a good time to unload or even be more adventurous and reverse.
I'm still long btw
