follow-up on 08 June:
The Esm8 has not fallen much despite the fact that right now there is no fear, and next week we get the Fed with a chance of raising interest rates and the meeting with North Korea is a wildcard. We are worried because nobody is worried, and this is what SC US sentiment tells us. With the VIX dropping to 11.22 early Thursday, that’s more euphoric than cautious.
Thus we decrease our target on esm8 from 2756 to 2743
We recommend a short on ESM8 above 2775 (2782 great short entry level) target 2756, stop 2793