ES has pulled back from its fresh all-time high at 7,838 to retest 7,720 – the prior ATH as support. RSI is holding above the 50 midline at 55.73, keeping the broader uptrend structure intact.
Trade Setup
Bias: Long Entry: Close green for August 19 session Stop: 7,595 Target 1: 7,838 Target 2: Continuation above 7,838 if momentum carries through
Invalidation
A daily close back below 7,595 invalidates the retest, signaling the breakout failed and support has given way.
Futures trading involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. This analysis is for informational purposes only and does not constitute financial advice.
