LT: I’ve written, ‘Bulls very much in Control right now‘. I set bullish targets on 04/17 (see note on chart) but ‘price back below January’s high at ES 7096.5 (SPY 697.84) could indicate a false breakout (Bull trap) – watching for that’. If previous highs (see second chart) fail to Support a test then Bulls would want to see them recovered quickly.
ST: In the note 04/17 I wrote ‘Market needs to settle for a while before a reference level, even minor, can develop‘. A minor (10dy) Control has now emerged at ES 7137.50. Price relative to that level is worth monitoring post RTH-open today.
read this post on Substack
