ES 240-min chart, 3 pm eastern time June 11th update:
the 240-min chart is looking weak based on two viewpoints, and the chart is potentially setting up for a "staying power" condition for further price weakness until the chart configuration reverses to a more bullish potential
the two viewpoints are:
1. the declining sequence and pattern of the recent six bars including the current incomplete bar with a price low of ES $1310.25
2. the location of the recent eight price bars relative to the current location of the key moving averages I have mentioned here in prior posts for all the ES chart time frames
there is one other metric that I am not willing to share that is a trend ID overlay, and I am also considering this info. in the chart assessment
fyi - the 240-min chart's 200ema value is now $1328.45
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