ES from a Big Picture perspective shows the price structure has recovered to and has marginally pierced the Neckline Resistance Zone at 4400-4420, which if sustained, will argue for upside continuation toward a challenge of the declining 50-DMA, now at 4460. If 4460 is taken out, then the larger June-October Head & Shoulders Top formation will be "officially Neutralized" in my work.
A climb above "Right Shoulder" resistance from 4510 to 4600 is required to reverse the larger pattern into an upside reversal signal that will trigger a potential intermediate-term target of 4850 to 4890!
For the time being, the 4420 to 4460 area represents the Bull vs. Bear big picture directional battle zone...
A bout of weakness that presses beneath 4370 breathes new life into the efficacy of the Head & Shoulders Top... Last is 4414.00