ES_F Weekly Chart: Potential Resistance and Topping Pattern
The $E-mini S&P 500 - main 2409(ESmain)$ have been tracking higher alongside the major indexes. However, the $ $S&P 500(.SPX)$ is facing potential resistance levels, and the ES Futures are forming a possible topping pattern based on recent candlestick formations.
While not a classic shooting star pattern, similar formations in the past have preceded periods of consolidation as indicated by yellow arrows.
No crash, a healthy pullback.
There's one other indicator that further supports this analysis. I'll share it later tonight if this post gets 40 reposts. Otherwise, I'll send the chart with more details via DM to everyone who reposted.
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https://x.com/SmartReversals/status/1804573515523199150
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