ES Morning Update June 28th 2018

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WOW! What a reversal yesterday... from a strong move up to another flush back down. Crazy markets! I have to say that it caught me off guard as I wasn't expecting it. Now this morning we are down a little more, so possibly this is the bottom forming here before another rally back up? I'm just going to sit today out and not make a forecast as I'm currently lost on the wave count and direction the market is going. But I will add that after the close today they are releasing the releasing the results of the banks stress test. The market is expecting them to pass just fine. If they do then maybe we bottom and see a rally? If they fail then possibly we flush out one more time hard and then rebound just a hard? That's all I have for today... sorry, I'm just out of sync with the market right now.