We discussed the E-mini S&P, $ES_F, being in the mother of all wedge patterns several times in recent posts. It was even a topic in today’s Traderfy Trend video. However, a midday review of the daily $ES_F shows this breakdown is getting more aggressive. Currently, the $ES_F just printed 2044 which is an exact touch of three day rolling S1. Technically, should we close around here, the wedge pattern will be considered as having broken down.
What are your thoughts?