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ES Near My Optimal, Next Target off of Sept 29 Low


ES (Emini S&P 500) continues to grind higher within its pattern of higher-highs and higher-lows off of its Sept 29 low at 1861 into this morning’s recovery high at 2028.00.

Purely from a structural perspective, the most recent upmove off of the Oct 14 pullback low at 1982.50 has the right look of completion, as does the larger advance off of 1861 exhibit the "right look" of a completed larger counter-trend up-upleg.

That said, however, to confirm that 2028 is a meaningful peak ahead of a resumption of weakness, ES must violate and sustain beneath key, near-term support at 2013.25-2012.25

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