ES/SPY long term update.
I'm running out of targets. If you go back and pull up my previous posts my longer term target has been the 4500 zone. Price has continued to chug higher pushing through one resistance level after another. For me the 4500 zone is a big level just because it lines up on multiple time periods going back to 2009. IMO this level has been a magnet pulling price higher and now it is a mere 160 points away. Earnings season may be the last catalyst to take it there. What happens after that I have no clue, but I will be watching closely.
I will post a new chart soon with updated levels. Depending on earning results I would not be surprised to see a bullish move into this level. I will be watching for price exhaustion if that that happens which may signal a deeper pull back.