Tues 8:55 AM - 1069 target exactly hit!!! ES futures still bullish following the roadmap until < 1066/64....that 1069 was hit,,,my exact target. ES can decline further and still be bullish, but the 1066/64 number would be very bullish. But a break below 1062 implies a test of 1059, then if 1059 breaks, 1056, 1051. ES support at 1064 coincidentaly represents BOTH the Fib retracement number and the 15MA in 60min chart.
Tues 4:33 AM Well the futures hit a high so far of 1068.75, a mere 0.25 off my first target. As long as the ES does not retrace lower than 1066/64, the bullish scenario in the Tues 3:38 AM update is still valid.
Tues 4:33 AM Well the futures hit a high so far of 1068.75, a mere 0.25 off my first target. As long as the ES does not retrace lower than 1066/64, the bullish scenario in the Tues 3:38 AM update is still valid.
Tues 3:38 AM The ES futures are up at 1067 right now. The 60min downtrend line has been violated to the upside. This is close to my first target of 1069 posted previously. Next targets are 1072, which is key because it is the prior high. Then 1077, 1079, 1083 next. Let's see what happens.
Monday 10:24 PM
The ES futures are up.
The 60min chart points to 1069 target if 1060 holds and if ES pierces the upper channel trendline around 1063. Since 1069 is so close to the previous high of 1072, the 1072 is probably in sight also. Whether this happens overnight or tomorrow during market hours remains to be seen. The 1069 target was calculated using the inv Head Shoulders pattern.
If ES cannot break higher out of the channel line around 1063, and if 1060 breaks lower then 1056 possible, and 1051 if 1056 breaks.
Right now, the charts are pointing UP, which is why I did not hold the BGZ overnight (sold at close Monday).
It will be interesting to see if ES can re-test the high, because we are getting mixed bullish and bearish signals. Bearish lower low, lower high today as I mentioned a few times in the room. Also a bearish last 30 minutes as prices peaked, touched the upper channel line (60min) and retreated back to 1058. But inverse HS bullish, and also the QQQQ were bullish.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
No comments:
Post a Comment