ES at Historical Resistance... Again 7/31/2020

Whelp, we are here again. We are at that historical resistance again.

This time I am pretty sure the historical resistance will not hold for too long. Liquidity is still high according to the internal data. The price action indicates that this market has a destination up north. The dollar is collapsing helps push the markets up due to inflation.

If it weren't for this inflation from the dollar's collapse, ES should've been around the 3000 level.

There is still a gap from February that has yet to be filled. That should be the destination that the market is heading. I wouldn't be surprised if the markets get inflated back to all time highs later this year.

Of course, the ES couldn't have made this far without a ton of short covering rallies on the way up. That's what happens when you trade against the trend.

Remember, the market is not the economy. The market is made of liquidity, credits, and loans/debts. Trade the market as it is, not what you wish it to be. That's where both permabears and permabulls get hurt.