Very simple analysis here.... in looking at ES on a monthly timeframe, it is clearly above a long term regression channel. So, while in the near term on a smaller timeframe, ES may succeed in making new highs, we need to be cognizant of reality that price always regresses to the mean....
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.