This week has revolved around one key level in ES: 5568-72, which has been lost and reclaimed four times. At 11:20 PM yesterday, it triggered a long setup from an a textbook failed breakdown, leading to a 65+ point rally—and overnight, the same pattern repeated again.
As of now:
• No change—5568-72 remains weak support
• A 5599 reclaim sets up a move to 5616, 5643+
• If 5568 fails, expect further downside
As of now:
• No change—5568-72 remains weak support
• A 5599 reclaim sets up a move to 5616, 5643+
• If 5568 fails, expect further downside
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