• On the weekly fesx we see, that european stock market is on its way to reach the alltime high
• The SPY weekly is still fighting with its downtrend that started with the beginning of 2022

 

• ES  (daily candles) succesfully broke out of that balance area
• We are one time framing higher for 4 days now and were able to close above the 61.8.
• But the dynamic is not very high. Overlapping value. Higher highs only by little
• What can happen next?
• Dynamic can increase with more short covering
• We can balance for a while
• We can totally roll over and get a new down swing

• We started strong with a breakout to new highs on high volume
• But then buyers ran out of bullets and we liquidated for the rest of the session resulting in a liquidation-b-profile
• We had a nice selling tail on the top but stronger selling did not develop. We even did not reach Fridays mid and by far not fridays low.
• So we are still otf up. It seems that we just have to balance a bit.