ES Update

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Two  nearby gaps to fill on the upside; 1352 and 1358.25.  Just above 1358.25 (currently about 1362) is the top of the descending VST bearish channel (shown as a dashed pink line).  If ES gets there, we might see a pullback from that line if the pros are leaning bearish off the bounce, otherwise next upside target is descending short-term trend line resistance and then S&T target at 1374.

Bull/bear line remains at the tentative structural low at 1319.75.  VST buyers from the ‘accumulation zone’ between 1319.75 to 1327.75 can use the bottom (currently at 1332) of the ascending light green bullish trident as a trailing stop guide.

The intersection of those two channels defines a triangle with the top of the descending channel (dashed pink( and the bottom of the rising channel (light green) providing the boundaries that will be watched for signs of one ultimately exerting dominance over the other.

Still a short-term range bound market between 1302.50 and 1375

…my .02

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