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NeonLight

Consolidation Continues Breakout Looms

Short
S&P 500 E-mini Futures (CME_MINI:ES1!)  
NeonLight  
CME_MINI:ES1!   S&P 500 E-mini Futures
Trend Analysis Wave Analysis SPDR S&P 500 ETF (SPY) S&P 500 E-Mini Futures
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trendanalysis waveanalysis spy es1!
ES continues to consolidate under the critical 4150 level, which happens to be the 38.2% fib level of the former (zigzag) move. This zone (4080 - 4135) has been extremely "trappy" but is nothing more than a combo correction, currently entering a motive state to complete the cycle.

I see a confluence of support ~4055 to complete this correction before one final (divergent) thrust higher.

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NeonLight
SPY Continuing Consolidation
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