ES Week Two of August 2022 Neutral/Bearish

6 באוג׳ 2022

I expect a third push to the high before a breakdown and chop around the 4175 area. We are coming up on an area the market has pivoted from since the beginning of the year. IF for some reason we break through the down trend line then I will be looking for a pullback to retest the backside of the trend line for a Long. That will signify that this bear market is over and another bullish trend is on the way. More than likely it is going to sell off and break 3650 to head towards 3400. June and July was just a bear market rally as was back in March. The entire move started on a 50' level and will end on the 50' level. At 4150 to be exact.