ES Morning Update January 3rd 2025
We double bottomed yesterday after a lot of wild intraday swings up and down, and rallied up from into the close. We are very close now to ending the bearish period, which should end early next week… meaning by Monday or Tuesday the bears will have overstayed there welcome and it will be time for a strong rally into mid-late January. As for the short term, we got oversold yesterday, so a bounce from it is normal. But I don’t think the low is in yet and I don’t think we are ready for a multi-week rally. I still think rallies will be sold until early next week.
Have a great weekend.
Source: http://reddragonleo.com/2025/01/03/es-morning-update-january-3rd-2025/
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