For the swing traders out there, ES is showing a handful of warning signs indicating the recent uptrend is about to collapse:
a. Testing strong resistance at 0.618 Fib
b. Volume unusually light on the 0.50 Fib breakout
c. 1D Stoch close to peaking at 100
d. Up 7 days in a row for the first time since week1 2018
Waiting for the candlesticks before pulling the trigger but should be a nice opportunity for 40-50 point profit. With solid economic backdrop, don't expect this to be a long-term play - likely won't break through 0.38 Fib.
a. Testing strong resistance at 0.618 Fib
b. Volume unusually light on the 0.50 Fib breakout
c. 1D Stoch close to peaking at 100
d. Up 7 days in a row for the first time since week1 2018
Waiting for the candlesticks before pulling the trigger but should be a nice opportunity for 40-50 point profit. With solid economic backdrop, don't expect this to be a long-term play - likely won't break through 0.38 Fib.