Price is compressing and a break is likely. My bias is to the long side ( above 51.5). 55.xx is attainable on a break of 54.23 and 58 on continued momentum thereafter. Not for the fainthearted given the chart ion smaller time frames in the last 2 weeks.
ES is close to a confluence of Fibs. There is a visible H&S that some could see, some could make an argument for a bear flag. Each to their own. Above this level opens up the target around 2712. IF this fails, potentially we could see sub 2600 on a break of around 48.( Error in the text. Should read 65.75-68)
Assuming that the current low holds, AAPL presents a good long opportunity. Of course, everything in context with the overall market. Initial targets around the 176 area and then 184.
IF no more volleys from out East, AAPL sitting on and near many areas of fib confluence. I would drill down smaller time frames to seek entry. Healthy targets above. Shown on lower time frame chart.
AVGO had a nice break out today. Looks to be headed to the 271 area. However, there is confluence at the 63-64 area so perhaps that might stall this move temporarily. A PB to the 37-40 area is likely if that is the case where a long entry has much less risk IMO.
GOOGL could be setting up for a break out. However, it needs to clear the 1109 area (downtrend line first. Appears a trip to 1109-1060 and then a break out if that is the intention
Needs to get above 1680 & 1716 to attempt a move higher. Though my bias is to the short side. that open gap at 1502 is still open and there are targets below.
ES 2 hour chart. Potential areas of support and resistance. The bullish case reinforces itself above 2778 IMO. Till then it is climbing the wall of worry.
Monthly Chart ES from 2009. Shows initial trend and the break out thereafter. Indicates likely areas of support should the original trend resume