Saturday, July 13, 2024

ES Morning Update June 28th 2024

A rangebound market all week as expected. Today we rally some to close out this week and the month of June. The market is resting now before the next big move, which I still think is down 8-10%, but of course it could be up too. I mean, overbought charts can get more overbought, but they still suggest the move will be a down move. If we reach the FET next week, which seems likely to me, then the following week I'd look for the pullback. Light volume is very likely next week due to the 4th of July holiday, which tends to favor the upside, and as long as that happens the move after traders come back should be a down one. Nothing more to add here as this week has been as expected.

Have a great weekend.

Author: Red

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