Wednesday, June 12, 2024

ES Morning Update May 31st 2017

Still no pullback yet, and instead we've rallied up some this morning.  Looks like the bulls where forced to move up or they would have lost support from the blue rising trendline, which they obviously did not want to give up.  So, are we going to have another face ripper day with a 20+ point rally?  I wish I knew the answer but unfortunately I don't.  I will say that the opportunity is certainly there for the bulls to just put the pedal to the metal and get a short squeeze going on the bears today.  I really don't see much in the charts though, meaning nothing clear to suggest a big move up down.  Some are bearish and others bullish, so I'm just going to wait it out to see what happens today and leave you guessing about the market along with me.  Good Luck.

Author: Red

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