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ES Continues to Grind Higher Towards a Major Swing Target


Similar to the post-Brexit upleg, which exhibited very little selling pressure at various price peaks along the way from 1981.50 to 2190, the post-POTUS election advance from 2028.50 to 2213.75 also exhibits very little selling pressure, even as the two rallies near equidistance at 210 points.

ES (Emini S&P 500) must climb to 2238 to reach equidistance with the Brexit rally, which is just 1,4% from current levels.

Barring a decline that breaks 2179-- the Italian Vote pullback low-- ES is poised for upside continuation to 2135/40 to satisfy the equidistance Swing Target... which if hurdled and sustained, will point ES towards a challenge of the upper boundary line of its potentially still relevant July-present Megaphone Formation.

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