On the 1st June the control migrated to 4147. Following that, Buyers were unable to keep ES above that level which was a negative, see chart.
On the weekly timeframe the major VAL at 3686 has now been tested. That could lead to a bounce but so far there is no evidence of Significant Buyers (green) entering.
Time spent around 3686 increases the chances that even on the weekly timeframe we are in a new distribution down and that would be the first in more than a decade.
