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ES (SPY) Threatens to Thrust into a New Upleg


ES (Emini S&P 500) is trading above 2350, which takes it one step closer to thrusting out of its 9-week, potentially bullish Coil Formation.

Next key resistance is at 2364, which my work argues is the final resistance level that could put a lid on the emergence from the bullish digestion period.

If ES does take out 2364, the prospects for a run at 2440/50 increase significantly.

Climbing the Wall of Worry continues.

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Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...
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