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Trends could allow some further upward movement for CME_MINI:ES1! by SemperTrader

I’m really mixed going into today. I’m going to be a bit bullish , only because I think there is a lot of upward trend movement. However, we are maxed out on trends yet again here, so I am not sure we make it much higher, and I think this rally may be coming to a close, at least briefly.

The trends for today are;

Last Macro Trend Signal Spots

30m – 4060 Downtrend (12/ 01 /2022) Higher Low

1Hr – 4005 Uptrend (11/30/2022) Higher High

2Hr – 4041 Uptrend (11/30/2022) Higher High

3Hr – 4082 Uptrend (11/30/2022) Higher High

4Hr – 4093 Uptrend (11/30/2022) Higher High

6Hr – 4091 Uptrend (11/30/2022) Higher High

12Hr – 4091 Uptrend (11/30/2022) Higher High

Daily – 3923 Uptrend (10/28/2022) Lower High

Weekly – 4366 Downtrend (2/14/2022) Higher Low

Overall, as I say in the video, I’d like to see us shoot up to that 4hr uptrending line, and I would short the market again, especially as it meets a downtrending line of all price action for the year. If we go lower from here, I’ll have to decide where I want to enter at if things show significant weakness.

Economic Data – We have Unemployment here shortly and payroll numbers. Both should cause some market shock, so sit back and enjoy the ride.

My overall sentiment;

Shorter Term – Slightly Bullish

Short Term – Neutral

Medium Term – Bearish

Long Term – Bearish /Neutral

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