ES Testing a Historical Resistance 7/20/2020
I mentioned yesterday that the ES was hammering to the upside to escape its wedge.
It happened.
The next resistance would be that red line above at 3260. It was support back in 2017 and it acted as a resistance zone back in early June.
If this resistance doesn't stop momentum, then the next resistance would be 3330 which was the original bear market gap from February.
I don't think it will fill that gap there in this run... maybe the next run. VIX, VVIX, and P/C Ratio are starting to set up like early June.
I'm only missing two more warnings for a pullback: bonds rallying and FOREX traders selling off.
It happened.
The next resistance would be that red line above at 3260. It was support back in 2017 and it acted as a resistance zone back in early June.
If this resistance doesn't stop momentum, then the next resistance would be 3330 which was the original bear market gap from February.
I don't think it will fill that gap there in this run... maybe the next run. VIX, VVIX, and P/C Ratio are starting to set up like early June.
I'm only missing two more warnings for a pullback: bonds rallying and FOREX traders selling off.