ES1!7601 rallied back above 7.6K after the geopolitical selloff, as expected https://www.meridianresearch.app/classic/notes/82a9b837-20e7-430f-841f-940d4491e13d Price has been compressing inside the ascending triangle for several weeks. This should resolve either this week or next.
I see two paths, but both end the same way. Current conditions increasingly point to an immediate break lower. The alternative is one final fakeout above 7.6K, taking ES to a new ATH before it collapses.
The market is still bid until the bellwether sector (SOXX576.8) breaks. On the longer-term chart, the secular trendline from the 2008 low converges with ST horizontal support around 530.