Small gap down so the gap should be filled. I don't see anything seriously wrong here especially that NQ doesn't confirm a lower low. On the other hand that AUDJPY is way too weak. What does that mean to the overall market, we'll have to wait and see.
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A possible H&S developing on ES, with a target of 1320 (which would break below the IH&S neckline), hints that we are going to head much lower, perhaps to a WW target of 1273 in the coming days. Good luck.
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this is normally where the rebound begins although I suspect there should be one small down leg to test the morning low before any serious rebound is possible. just a wild guess, nothing solid.
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The NYSI reached 699.68 and is starting to turn dn. The NYMO dn to 27.32 and still high. We could see dn mkt for a few days until NYSI starts turning up.
hey guys, /es 1350 is the weekly pivot and the bulls defended it so far. i am waiting for the super support area of 1338-1342 for a swing long.... but i believe everyone else is also.. so i wonder what's gonna really happen
uempel wrote:Back from an extended Easter Weekend I pull out this old chart (which I posted on February 11th). Looks like some kind of target has been met...
LTweeklyAF.png
Missed this the first time. Some innovating thinking here on the pitchforks. Nice chart.
uempel wrote:Back from an extended Easter Weekend I pull out this old chart (which I posted on February 11th). Looks like some kind of target has been met...
LTweeklyAF.png
Thanks for sharing!
Does it mean that we are in a overall downtrend ?
The head and shoulders target off the March 09 bottom was 1242, so the S&P has been living on borrowed time for too long. It's way overdue for a real correction. There hasn't been a single 38% retracement since March 09, at least that is due. Bulls are getting out of control greedy.