I wrote Tuesday that the ‘first mechanical indication of weakness would now be a RTH close below 6705.75, Monday’s Buying Day Low’ (dashed line). That happened yesterday. My usual expectation would now be a test of the 20ema (daily) which is at 6635 today. That is below the ST Control at 6671, and would put ES in a weak ST position.
In any case, now looking for Buyers to reassert themselves in the ST or the LT trend could be under threat – that would happen if Significant Sellers (red) are marked below 6635.
