📉 S&P500 rising wedge in falling channel: ES1! - Bears roaringCME_MINI:ES1! forming declining megaphone pattern, now it coul be falling channel also as you can see in my chart. There is an evidence of steadely incrasing volatility so its nod good sign for bulls. As you notice small rising wedge evolved in the megaphone pattern. Today i expecting some bulls come back to the game and will touch higher trendline of the rising wedge to the (blue) supply zone to retest and there is higher trendline of declining megaphone pattern. I expecting further downside move from there, so there is nice sweet spot to plan entry to short trades. My next target on ES is 3660
It can be apply to AMEX:SPY
