ES down (weekly chart)
today was fomc, ES dropped hard on a large kill candle
Weekly chart:
-looks like a reversal on price action; last week also had inc volume on small body candle, failing to break higher
-the rsi (momentum) turned down a while back; the rsi looks to be moving toward the bottom of these combined channels - the green uptrend channel is very wide, so ES can make a big pullback and still be in a technical uptrend in momentum; tbd
**I have not listened to anything related to FOMC yet; everything published here is pure technical analysis
Weekly chart:
-looks like a reversal on price action; last week also had inc volume on small body candle, failing to break higher
-the rsi (momentum) turned down a while back; the rsi looks to be moving toward the bottom of these combined channels - the green uptrend channel is very wide, so ES can make a big pullback and still be in a technical uptrend in momentum; tbd
**I have not listened to anything related to FOMC yet; everything published here is pure technical analysis
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