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Monthly Archives: March 2016
Early morning breakout
Just as the ECB announced lowering their rate by 1/2% the ES spiked upward breaking out of it’s Major Resistance area of 1994. Now the 1994 should be the line in the sand if we are going higher. ES … Continue reading
Breakdown
Price broke down yesterday through the 1984 level and has found support at the 1977 level which it has tested twice before moving up again to retest the 1994 area. So now we are ping pong sideways between 1994 … Continue reading
Inside days
Not much has happened as far as the ES price action since Sunday evening except to say that we are definitely in a sideways pattern on the 60 minute chart. MR is at the 2007.66 area and MS is … Continue reading
Looking for a pull back…
The ES ended the week by grinding its 4th day up in a row to top the week out at the 2007 area. Our price action on the hourly chart has been a little wide and whippy and I’ve … Continue reading
A narrow range day
As expected the price action in the ES formed a narrow range green bar yesterday finding mS at 1966 after making a new high of 1984.50. Price has since ground higher late yesterday afternoon into this early morning topping … Continue reading
What looks obvious now usually isn’t until later…
Yesterday I was looking for a continuation lower which just did not happen as the market just rocked the Bears as the Bulls took over taking out minor resistance mR 1956 and MR at 1969 to finally topping out … Continue reading
Posted in ES Market update
Tagged Sell off
Comments Off on What looks obvious now usually isn’t until later…
Hourly Downtrend forming?
After a good selloff yesterday overnight the Europeans found a bottom at the 1920 area. Currently we have 2 lower highs and if price finds a new low below the 1920 area then we would have confirmation of a … Continue reading