ES Update

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The target at the top of the ST triangle has been achieved (for > 100 points since 1148 bottom rail/triangle range target).

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Bear stops are just above the descending ST trend line, which is also the ST bearish trend channel top rail.  Sellers will likely take a shot here, but the risk is a push above that line where not only will day traders cover–but we will see bearish pros and momentum traders buying as well.  Bulls are fine here on any pullback above rising VST trend line support.

…my .02

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