/ES & SPX are in the middle of a bearish and bullish pattern.
/ES & SPX have form both a and .
A tug-of-war between sellers and buyers. At the current moment the patterns have played out. The patterns are forming strong support and more buyers are stepping in.
I’d envision a pull down to 4238.50 and consolidation at that level between 4263.25. However if 4212.75 is lost, a bigger will form and confirm, and continue to 4096.75.
Watching price levels of 4238.50(yellow dotted line) and how it reacts for the next week.
If we break out of the grey box we will be aiming for 4446.25