ES1 outside upper BB on daily and tagging R1 at the 1.618 fib ext from that 3 drives. We see a flag break and measured move takes it to 2188.25; however, right now the divergences are supporting it.
CCI overbought, SLO STO putting in a lower high and RSI showing a divergence thus far.
I see two scenarios.
1. We tank Tuesday supported by rate hike talk and disgruntled China. A long weekend where US investors can't even touch positions until Tuesday.
2. Grind up to the 2109.50 area to complete an 8-9 accumulation pattern setting up for a secondary test at 1860.
I can see #1, but #2 is most likely and aligns with other charts I'm looking at. IWM $116.08 and $QQQ $112+
VIX may reach 12, if so, I'll load the boat.
CCI overbought, SLO STO putting in a lower high and RSI showing a divergence thus far.
I see two scenarios.
1. We tank Tuesday supported by rate hike talk and disgruntled China. A long weekend where US investors can't even touch positions until Tuesday.
2. Grind up to the 2109.50 area to complete an 8-9 accumulation pattern setting up for a secondary test at 1860.
I can see #1, but #2 is most likely and aligns with other charts I'm looking at. IWM $116.08 and $QQQ $112+
VIX may reach 12, if so, I'll load the boat.
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