Hourly indicators are still bullish. A 3 day cycle high is due late today early tomorrow. The 2-3 day cycle projection is 3300. An earlier turn at a lower price would suggest that the bigger trend is weakening a bit. They need to get back under 3272, otherwise the uptrend will remain intact.
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UPDATE 9:10 AM ET
ES needs to break 3258.88 to set a lower low on the hourly. It seems to have set a new uptrend channel at a lesser angle, but on the bearish side, hourly indicators are now on sell signals. Look to see whether 3273 is resistance. If rally is rebuffed below that, bears ball for the next couple of days.
UPDATE 2:45 PM ET
Latest 5 day cycle projection 3210 done. Also multiple support lines hit.
I’d call a low here but indicators are crashing. This should break down and get very dramatic on the downside.
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