ES Update

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You gotta love those confirmed spotter signals…

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ES is up > 4.3% since the spotter signal confirmed on November 19th. The short-term trend has flipped back to bullish > 1393

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The initial target for the confirmed bottom spotter at 1340.25 is the descending ST trendline resistance currently at the 1405 area.  That target lines up with the LT and IT counter-trend sell/long partials targets for Stops and Targets at 1406.25 and 1401.50 respectively…

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We have a short market day today, so we’ll see if that target can be reached–but that ST trendline resistance is the next line in play as we watch to see where the next ST structural high will form.

…my .02

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