Close above 1333 on the S&P is still bullish, below that is bearish. Good rule is that after a big up day that looks like a breakout, the market shouldn't give back more than half of the gains at the days close.
Long on a swing trade from the close on Tuesday at 1325.50 on the ES. Loose stop is 1327, tighter stop is 1332. For The ES (S&P minis) Any close below 1332 is very bad for the bulls. A close above 1333-1334 should still be bullish...with a possible gap up again tomorrow.
BullBear52x wrote:want to hear a bad news? this is so bear flag
I'm not convinced yet. I see a Descending Triangle Breakdown then retest of the descending TL, that happened today.
We are now still inside the triangle and need to fall below 133.50 to break the Bulls.
sure I want to see that level taken out too, bears need to make this bear flag under 200ma come true or they will be in another pain for the whole weekend.
My comments are for entertainment/educational purpose only. NOT a trade advice.
all ma start to turn down without reversal in price, bear smile.....well, wait until the Transportation agree before running to the bank, see lower left.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
ok, another guess here, i believe it's small bear flag, so should breakdown eventually.
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