I wrote yesterday ‘the minor Control fell to 7665. If this Support is broken the ST downside target is 7600‘.
It played out like that. There was a brief test of the 7600 Support and ES has bounced strongly since then – printing above 7720 this morning.
ES has to hold 7665 (ideally with Significant Buying (green) being printed above that level) to put the odds back on the Bull side.
The SPY ST downside target I gave yesterday was 752.0. Low came in at 749.6. Price printing time above the 765.5 Resistance would be a positive for the Bulls.
Read this post on Substack
