The Long-Term ES Futures Remain in a Negative Configuration

Od dereckcoatney
Despite today's short covering rip into the close, the ES futures remain in a long-term negative configuration. Until the recent highs in the 3230 range are taken out, swing traders can maintain short positions from here.

We remain faced with a bearish wedge having broken down with a new down trend so far intact, though bears will want to see a new lower low develop in the coming week or so.
Chart PatternsESTechnical IndicatorsSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY)
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