ES Another Wide Range Day

ES Another Wide Range Day

I'm expecting another wide range day today. As long as ES stays above trendline A (~1132), then 1150 is in the cards. If ES breaks below trendline A then I expect ES to drop at least back to 1105. An interesting thing to note is how it appears ES may have backtested trendline B (connects the two lows near 1039.25) yesterday. Furthermore notice how the volume peaked a few days ago but ES has not gained much since then. This is an indication that the rally may be over. I will try to get short above 1140, the more days ES stalls without breaking out and above 1146, the more likely it gets that ES pulls back before the next big rally.

LOADING
(optional)
(optional)
Copyright 2009. All Rights Reserved.   Site Map
Disclaimer: All content on spychart.net is intended for recreational purposes only. Consult a licensed financial planner before making any decisions with financial ramifications. The author is not liable for any financial, mental, physical, or spiritual loss or damage incurred by the reader.