$ES: Post FOMC Minutes in a High Level Trading Range

ES-- just ahead of the FOMC Minutes, ES was trading at 2785.50. In reaction to the headlines, ES popped to a new, post-December rally high at 2790.75, then pivoted to the downside and nosedived to 2773.75 before climbing to where it is now, around 2784.00. Bottom Line: although the new high did not sustain, the ensuing weakness has NOT inflicted any damage to the near term bullish pattern that exhibits a series of high-highs and higher-lows off of the most recent significant corrective low either from 2/14/19 at 2729, or from 2/08/19 at 2680.75. Next target is 2792/95. Only a rollover and break of 2773.00 will begin to inflict some technical damage.. Last is 2785...

2 20 ES 20 Min Chart 240 GIF
2 20 ES 20 Min Chart 240 GIF

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