Important Triangle Failure

the /ES has done something subtle but key

Over the course of the past week, the /ES has wiggled and wobbled without any clear direction, sometimes violently ripping up or down with little apparent cause. Simply stated, it's a mess, at least on a minute bar basis.

Yet if we look at a daily bar, particularly in candlestick mode, something very important jumps out at me: the market had a clean and …