Disliked{quote} S&P500 (ES) - Weekly update: The big question is now at hand. Is this the last gasp of bullrun before a larger pullback in the coming weeks? If the index starts to "wingle" at this area and make a minor pullback (WHICH IS DUE), early this week, I will look for sell setups when the index hit new highs after that. It all remains to be seen, but we do have several technical confluences on the short and longer term charts. A potential ending diagonal may be in works, if that's the case, we could see some sharp and brutal moves to the downside...Ignored
IF SO; Will it be a swallow 4th wave or a more brutal "kneejerk" move in the next couple days.
As seen on the charts, there are resistance in the current area coupled with divergence and overbought daily chart.
Lets see what the next couple days has in store. Any pullback will likely be bought.
4 hour chart:
1 hour scenario - looking to sell such....