The crescent shaped selloff did mark a bottom of some sort after all. Now the question is "Is the rally sustainable ? ". Before the Fed meeting the technicals have decided what they want to do going into the Fed meeting. Now the real question is "Are those positioned based on these technicals right or wrong ?"
Two charts which are self explanatory.
We are coming out of a very complex bottom on the ES (the complexity which i had not seen in a while). The level of complexity suggests a near vertical rally without any meaningful pullback IMO.
120-min buy signal
1 comment:
Nice looking charts Nav. How are you positioning yourself in the next 2 hours?
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