TA update - Market Analysis for May 5th, 2020
ES took the direct path down and up....my expectation entering week was chew up a bit more time...clearly tape has other ideas, keeps moving fast....
above 2889 (61.8% retrace) and higehr than my orange band.... isnt what bears want to see as it opens up the 2922 fib (which then puts a corrective bounce at the thrashes of another squueeze higher to prior highs and blowing it up)....so id be more cautious above 2889/95 es....below there bears need to start to do something to slow it down...so far not much...
ES*0 - Basic TA 2 - May-05 0716 AM (1 hour)
