ES has a similar chart to NQ. ES didn't even make it to the 38% retracement. The dip in will provide fuel to the short covering. So, when we get back up to that 38% level, we will blow through it and send us to the 50-61.8% HWB short. Before we get there, we have to deal with an intermediate HWB short that we closed right up against. However, we were at the end of a short-term long at the close. So, a retrace into that short-term HWB long at 3003.75 is a buy. Bullish above 2996. Sell 3110-3140.

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Love it. Great work

When we break the 61.8% line of the intermediate short (failure line) it is a big rally from 3036 to the HWB short at 3110.75. I don't anticipate that we trade the short until Tuesday Europe Session. So, we have Sunday and Monday rally coming up. Just hold the 2996 level.

So just to confirm the 38% retracement level is 3003.75?

38% of the larger HWB short is 3083. The 3003.75 is the HWB long 50% line. Failure is 2996.00. As long as we stay above there, we are bullish.

Good post MB

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