Some interesting things going on with both the YM and ES as outlined on my chart. With everything being said, I am not in the game of forecasting, I am in the business of implementing my statistical edge (strategy). The way I frame the markets, I am looking at short measured moves on both YM and ES up until: A) there is a failure of short measured moves and a confirmation of longs, B) price hits the 50% retracement longs and confirms a long trade in the lower time-frames, and C) I get no signal for entry - at which point I remain in cash position.