This is an Ending Diagonal. Notice, it is a contracting ED, and incidentally, the intersection of its top and bottom trend lines provide an ideal end point. A little bird told me 5375 was ripe for selling, and this picture makes me confident he was right. ATH 5362.75 at the time of this post, but calling it, anyway, as late as 5375.75. If not today, maybe in the week.
Best, Cuz
Best, Cuz
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ALT would be that I have miscounted C, which would put it at the next peak, and would mean we should tag the 5456 price level, outside the week.
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Like the contour on the "h," lol, but probably get a little higher to hit that level...NQ appears to have topped, from a levels perspective, tagging our long-term target of 19023.75, so looking for ES to reach its 5375 target, somehow. Of course, structurally, this looks pretty nicely.
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Is 5372.75 close enough. Did get higher, and MACD is still saying Bearish.
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Are we dealing with a larger, expanding diagonal, or is this a runaway b-wave? I think it is a smaller fractal of the overall pattern, and we will see a run up to at least 5490.50, from here.
