ES Morning Update May 16th 2023
Another day of nothing yesterday. But the market is staying inside the wedge, just playing ping pong between the lower and upper trendlines. I don’t have any idea what’s going to happen today. I’m just waiting on that breakout so I can short it.
That’s all I can do at this point. I firmly think we well drop down near 4000 by the end of this month but one more pop is likely coming first. I will say though that time is running out on the wedge as the market is near the APEX of it (the point), so a breakout today or tomorrow seems likely. Have a blessed day.
Source: https://reddragonleo.com/2023/05/16/es-morning-update-may-16th-2023/
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