Significant Selling has been marked for four consecutive days. Trend is certainly down but that pattern is extremely rare and “may” mark capitulation, at least of some degree.
At the start of the month I thought 4210 would be tested if ES printed time below 4319 (see previous notes on chart) and that remains an interesting level. ES reached 4215.25 overnight.
If ES is going to find a low hereabouts it should rally quickly back to the Control at 4368.5. Time spent 4210/15 would not fit that scenario. I’m maintaining the defensive stance as per note 09/18 for now.
