Monthlong Bearish Wedge on ES Futures E-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:ES1! dereckcoatney Until the local highs made on July 13th, I had been viewing the ES futures as forming a consolidating continuation wedge . With the recent highs, it has now taken the form of a bearish wedge , complete with RSI divergence. The structure will have the same conclusion. When it is complete, price action will quickly resolve to the downside.