ES closing the week at the weekly lows shows the market’s unwillingness to bet on the daily support holding

chart: investing.com

ES spending precious Santa Claus time without showing any substantial progress. Given the last 2 months behavior I am afraid that one more test of the recent lows is highly probable. In any case, the character of this market is changing compared to the “easy” QE years gone.

chart: investing.com

ES with a promising follow through 2 sessions after the bear trap. For now this looks just as a relief rally and nothing more, as the short-term trend remains down.

chart: investing.com