Emini S&P 500: Post-Powell Speech Downtrend Continues

Thursday, September 1, 2022-- Mptrader Pre-Market Update: ES remains in its dominant post-Powell Jackson Hole Speech downtrend pattern of lower-lows and lower-highs (see my attached 30 Minute Chart).

To break the back of the dominant downtrend, ES needs to climb and sustain above 3970/72 for starters, and then follow through to the upside above 3984/85 to trigger initial upside reversal signals.  

Unless and until strength begins to compromise the downtrend setup, ES will remain vulnerable to still more weakness that presses closer to my 3910/20 and 3870/80 target zones... Last is 3931.50