ES - August 5th - Afternoon Update

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1:25pm EST - Afternoon Update.

Price looks to be building a bear flag from the am sell off. This would be validated with a loss of 6323 level and you could look to short down to 6310, 6298. I would take my profit at 6310, as you could get a short squeeze right below or at the 6298 level. As a long ES trader, shorting for 10pts is not my edge. IF, you like to short that would be what to watch for.

I am still looking for a long at 6298 or 6275-77 flush and reclaim of these levels. We need some volatility and we might get some after 2pm today.
注释
3:36pm EST Update - Price looks to be back testing the break of the bear flag. IF, price can move below 6330, we should see targets of 6306 then 6296. Either level could give price a decent bounce back up to the 6324 resistance. Price has to break below 6324 and flush down the targets for this to remain valid.

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