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That it’s 4648 to 4667. Those are the numbers to beat on the ES, S&P fugutures this morning. Anything within that box is meaningless. A breakout either way should be a signal for a bigger movement.
Given that the 5 day cycle up phase is already almost 2 days along without making progress, this constipation could lead to an explosive movement to the downside.
Would I take an anticipatory position? Or might this be better called a suppository position? As in suppose it breaks down or suppose it doesn’t. Then you have multiple suppositories. Once you choose a suppository position, there’s no turning back.
For perspective, when we zoom out to the 4 hour bars, we see the infamous Galloping Giraffosaurus pattern. And we all know what that means. It’s not good news for bears.
For more on the big picture and elsewhere: