Read on Twitter
ES is at crossroads tonight after spending all day after making its 9 AM high at 3156.25 coiling into a triangle type of formation because coils or triangle atop a 233 point move in just over 1-1/2 days usually resolve themselves in one more thrust to the upside that marginally
takes out the high (3156.25) before another major decline emerges. If that happens here, then expect ES to run up to 3180-3200, but definitely NOT above the 6/06 recovery high at 3231.25 to make a lower recovery high, and then turn down with power. If such a scenario unfolds,
then the post March recovery period into June will end with a BIG Double Top in the vicinity of 3200, setting up a downside reversal that will press below 2923 to 2800, if not all the way down to 2400. The alternative near term bearish scenario would kick in if ES started to
decline from current levels at 3111.25, and then declined below 3060. Finally, the only BULLISH SCENARIO will kick in if ES climbs above the June 6 high at 3231.25, which will argue for a run at new all time highs above the Feb. high at 3386.25. In that Quadruple Witching June
Expiration is Friday, the scenario and price path we will be dealing with should be evident by next Monday's open.