ES Morning Update February 2nd 2023

Yesterday we finally got the squeeze move I was looking for, so to me there’s nothing left on the upside now. Going forward we should be moving back down and how far we go will be determined by how fast we drop.

As for today I’m not expecting a lot as we usually get a “pause” day before bigger selling comes in after an important top. You can look back at the highs from last year for examples of what happened the next day. The August 16th 2022 high was followed by 2 days of “not much” until the first big drop happened. The March 29th high started the next day, but the selling was slow at first.

Even the January 4th top last year was followed by a pause day on the 5th and then the selling started. So patience now is the thing I’m focusing on as this is more like “Willy Coyote” who just ran off a cliff yesterday but hasn’t realized it yet and is stuck in mid-air right now.

Once he looks down it’s all over with. Not much else to add here as in my opinion the upside is finished and we should start going down now. Have a blessed day. Once he looks down it’s all over with. Not much else to add here as in my opinion the upside is finished and we should start going down now. Have a blessed day.

Once he looks down it’s all over with. That’s where I think we are at now.  We should see some “indecision” today as new bulls are buying late and bears are licking their wounds from yesterday.  Not much else to add here as in my opinion the upside is finished and we should start going down now. Have a blessed day.