Just a simple post with two simple charts. It does not take much to explain where we are right now. For you seasoned folks this is a nothing post, but for thsoe of you that want to understand where we are read on.
/ES daily 1 year - Here is the P2 bull market rising wedge. A few things to notice. First, The red P2 support line. Next, the Pink Bear Market top trendline. Next the sky (Carolina) blue New lower support line. Next the 50ma and its relation to price. Finally the negative divergence in the RSI indicator.
GL out there this week. Hopefully we'll get some good action. This sideways crap is driving me nuts. I'll have more detailed stuff this week. At this time everything is calm and no red flags are flying.