Small gap down or flat open, so could be a range day today. Global ES looks like a consolidation (Rectangle) or Bear Flag, so chances are little higher that after a rebound or consolidation of some kind the market would continue lower.
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Cobra wrote:Small gap down or flat open, so could be a range day today. Global ES looks like a consolidation (Rectangle) or Bear Flag, so chances are little higher that after a rebound or consolidation of some kind the market would continue lower.
Cobra wrote:Small gap down or flat open, so could be a range day today. Global ES looks like a consolidation (Rectangle) or Bear Flag, so chances are little higher that after a rebound or consolidation of some kind the market would continue lower.
how low it will go?
Consolidation? No idea.
Breakdown would be a measured move, Fib 61.8 of yesterday's range.
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Cobra wrote:Small gap down or flat open, so could be a range day today. Global ES looks like a consolidation (Rectangle) or Bear Flag, so chances are little higher that after a rebound or consolidation of some kind the market would continue lower.
how low it will go?
Consolidation? No idea.
Breakdown would be a measured move, Fib 61.8 of yesterday's range.
Another Day...FYI..Stocktiming.com says Mkt in danger condition today.....Institutions are under low distribution... Liquidity still high but moving down...Russell the most short term negitive. The owner Marty has very good charts and a Mkt sumary every day.He is very very conservitive...Here is to good trading today.
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8 consecutive red hourly bars are rare, so a rebound of some kind should be close (intraday only) and as usual I expect the rebound (if any) would fail eventually.
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All the intraday chart I've been showing or I shall say all the charts I've been showing at my blog or my forum are from my public chart list, you can check there: http://stockcharts.com/def/servlet/Favo ... =ID2393449
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Cobra wrote:8 consecutive red hourly bars are rare, so a rebound of some kind should be close (intraday only) and as usual I expect the rebound (if any) would fail eventually.
/ES
This is an experimental chart to determine whether Wolfe Waves provide indications of support and resistance levels. The three parallel grey lines from left to right comprise a long-term upward channel. Within that channel are two WWs (1 and 1' with targets of 6 and 6'); note that WW' (in blue) has as its upper boundary the top line of the rising channel. I'll post this same chart from time to time to see if there is any merit in this idea.
By the way, I saw some ad poster aleady posting, I don't have time to deal with those, so now I manually approve register, please when you register, try your best use some meaningful id or at least human understandable email address so that I know you're human not a machine. Thanks.
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Cobra wrote:8 consecutive red hourly bars are rare, so a rebound of some kind should be close (intraday only) and as usual I expect the rebound (if any) would fail eventually.
We'll talk when there is a rebound.
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