Hello Everyone,
Yesterday we saw the rising wedges on the SPX (and QQQ) break to the downside. Today, the indices began with a downside gap and were unable to fill those gaps on today's bounce which is a sign of weakness but we did manage a two way trade intraday. The SPX/ES have retraced this entire rally and are now backtesting the breakout zone. Thus what transpires over the next few sessions will likely set the stage for the next trending move. Onus is back on the bulls here.
ES Support 3900 3880 with resistance 3930 3950-60 (bulls need to reclaim)
Please take a moment to look at the trade ideas.
