Top 5 Weekly Trade Ideas #1 - ES Ascending Wedge Break

l’altro ieriES has been forming an ascending wedge for about 2 weeks and it closed below last week. I wouldn't say it's a confirmed break yet, we'll have to see where we're at tomorrow morning, but if it remains below I'd be looking for shorts targeting ~5730 and then demand near 5700.

This is a shorter term pattern, but it may be good for 50 points or more. If ES has reclaimed this trendline by open tomorrow I'd consider it invalid. If we stay below, the ideal entry would be right on the trendline retest with a stop above, but it may not work out that well so I like puts with a few weeks of time to ride this down to 5700 as long as it never reclaims 5800 or the wedge.