The ES bounced off the 996, pierced 1004 and is currently at 1007. This pattern is very similar to the pattern we saw Thurs, where there was a decline followed by a rocket higher, as mentioned in previous post below. Will the ES continue to mimic Thurs and go up to the 1012/1015 area? Or will it stall at 1008 and turn down again.
Looks like the bull stoch cross mentioned in prev post below did take hold and propel prices up. Very interesting because the daily RSI is still below its down R trendline...touching it...testing it... while it remains below we are still bearish and have another bearish divergence of higher prices but a less high RSI. It's a battle right now.
Right now, the charts suggest that 1007 will be broken higher for a test of 1010. If 1010 breaks then 1016.
After that, we will see if it turns down or not.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment