ES: Intervening Rally Ahead of Another Corrective Decline?
My Big Picture setup in ES is still focused on the price structure's juxtaposition with the 20 DMA. If my near-term pattern work that indicates the strength yesterday into this AM represents an "intervening" rally ahead of another corrective decline, then ES will again CLOSE beneath the 20 DMA, now at 6350, which will reinstate a preliminary downside reversal signal (that was neutralized by yesterday's upmove). Let's watch the ES-20 DMA differential-- now 11.5 points-- as today's trading unfolds... Last in ES is 6361.50... Last in the 20 DMA is 6350...