On To The Retest

On To The Retest

ES made Stan’s target area 2700-40 for the rally and all three of ES, NQ and TF have turned back down towards likely retests of the retracement lows so far. There is still a possible case for high retests on these to make double tops to deliver that move, but I was only assigning a maximum one in three to that scenario on the video below, and the odds have reduced further since then. Intraday Video from theartofchart.net – Update on ES, NQ and TF:

The nicest setup to get there is a decent quality H&S on NQ that has broken down with a target at the low retest. Looking for this to make target soon, ideally this week, though I’m not expecting the retest to proceed as vigorously as the original low. NQ Mar 60min chart:

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