This is a bigger picture view of ES. We have been building a massive triangle since late 2024. 5800 is the bottom of the range with 6160 as top of the range. We have been making lower highs each time we attempt to move higher. We are currently back at the top of the range with 6118 being the next target. We could still continue to consolidate sideways in this triangle pattern for a week or so further. Presidents' Day holiday on Monday 17th and the markets will be closed. When price fills out and moves higher or lower. I would expect a multi-week move that could take us higher 350+ points or lower 350+ points. Above 6183 and we can expect a nice bullish move to ATHs. Below 5900 and we could see a bearish move lower.
Note: All of this is just a big picture view, and I have no idea where price will actually go in the future. I do not trade off this information, merely pointing out some technical analysis in the bigger picture.
Note: All of this is just a big picture view, and I have no idea where price will actually go in the future. I do not trade off this information, merely pointing out some technical analysis in the bigger picture.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.