ES/MES Correction Estimates
Volume profile cannot lie. We are needling out, there is no oxygen up here, and this rally broke through the 50% line of this range on a total abstract squeeze. So... Bears see the fatigue and they see a rate decision in June.
I have a chart of the Mag 7 only, because they are the real index. It's gone parabolic. And it has a weekly candle that is a big tall Doji. And the volume is even more of a needle than the indexes.
The old market was boring. Mag 7 trade like small cap. They are the only thing that seems to matter. So, we have to accept that price swings will be huge and dramatic. So a drop to 3700, the bottom of the major volume range over this last few years, was a big deal ten years ago, but now? It's the new normal. I'm not saying I've done a good job trading it, I'm just taking a swing at it.
This rally was terrible. It was ugly, jittery, low volume, squeeze after squeeze until we reached a fib level on this channel that we had not retested. Now that we have, and we're on zero volume, this this can correct. Mag 7 will correct. And it will be glorious.
I'm very excited about the support and save at my 23% channel fib, but also, coordinates with swing low on the volume block we've made over 3 years. When that volume block saves us, oh baby the true rally on good volume can begin.
Tesla has a gap on it's chart at 85 and I was like... wut? We really gonna go down there? But yeah, this will let it get down there. And there is zero chance it gets lower. Man... Wish I had more cash for June. Maybe I'll trade better on the way down.
I have a chart of the Mag 7 only, because they are the real index. It's gone parabolic. And it has a weekly candle that is a big tall Doji. And the volume is even more of a needle than the indexes.
The old market was boring. Mag 7 trade like small cap. They are the only thing that seems to matter. So, we have to accept that price swings will be huge and dramatic. So a drop to 3700, the bottom of the major volume range over this last few years, was a big deal ten years ago, but now? It's the new normal. I'm not saying I've done a good job trading it, I'm just taking a swing at it.
This rally was terrible. It was ugly, jittery, low volume, squeeze after squeeze until we reached a fib level on this channel that we had not retested. Now that we have, and we're on zero volume, this this can correct. Mag 7 will correct. And it will be glorious.
I'm very excited about the support and save at my 23% channel fib, but also, coordinates with swing low on the volume block we've made over 3 years. When that volume block saves us, oh baby the true rally on good volume can begin.
Tesla has a gap on it's chart at 85 and I was like... wut? We really gonna go down there? But yeah, this will let it get down there. And there is zero chance it gets lower. Man... Wish I had more cash for June. Maybe I'll trade better on the way down.
Penafian
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