I was seeing a possibility of a retracement last night and was talking about that this morning in my premarket vid. The 60min sell signals on ES and NQ have made target but there is a strong case on NQ for a hit of a wedge support trendline currently in the 6460 area and that has not yet been hit. On TF this is likely to be a pullback to establish a rising support trendline before the high probability retest of the all time high, though obviously this is a big news bomb week. Intraday Video – Update on ES, NQ and TF
Here is the double bottom setup on RUT/TF shown on RUT. The action from yesterday’s high looks like a bull flag forming, and most likely that’s exactly what it is. RUT 60min chart:
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There is a lot of news this afternoon and tomorrow. Be wary.