Broken Uptrend Headed to 1100

Broken Uptrend Headed to 1100

ES uptrendline is clearly broken. ES is headed to 1120 at least and most likely 1100. There is still a possibility that ES rallies back up to backtest trendline A. I will consider ourselves to be very lucky to get a short entry on a backtest of trendline A. There is also a remote possibility that ES climbs back above trendline A. In that case I favor ES to return to 1150. But there are ES and weekly options expiring today and tomorrow so you never know.

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