ES Morning Update September 16th 2024
We are up against resistance from the falling white trendline and the horizontal prior highs around 5660-5670, so there’s not much to do right now but wait until the FOMC this Wednesday and see where we are at. Too me, if we are still up in this range, meaning we don’t pullback much, I have to think it’s a sell the news event. If we pullback in front of it, to say 5550 or lower, then I’d look for some last rally into this Friday to attempt to make a new high again… but I really don’t think we will get through it.
I feel like this market is setting up for a surprise crash like drop starting next week that no one will see coming. Others think we’ll top out into mid-October but I just don’t see it. I could be wrong but I think a big surprise is coming, and well before the November election. Not much more to add at this point as we wait on the FOMC.
Have a blessed day.
Source: http://reddragonleo.com/2024/09/16/es-morning-update-september-16th-2024/
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