Emini S&P 500 In High-Level Bullish Digestion Pattern
ES-- The index climbed to a new post-April high at 6270.75 in an attempt to break out of its three-session high-level bullish digestion pattern, but there has been no upside follow-through. Instead, ES has rolled over into a minor (so far) pullback. As long as any additional weakness is contained above 6225, the high-level bullish digestion pattern will remain intact with a target zone of 6285-6300, but a break of 6225 will morph the pattern into a near-term top projecting to 6180/85...
Let's keep in mind that the Monthly Employment Report for June will be released at 8:30 AM ET tomorrow morning, which means that today's price action could be subdued and boring ahead of the next consequential directional catalyst... Last is 6247.25...