Bullish: ES over 1061, and tests 1069 then 1072 then 1078, 1081, 1987, 1097
Bearish: ES breaks under 1061, then tests 1058, 1055, 1045, 1029
Some numbers to watch in ES
1065 -- break AND hold over 1065 and ES might not turn down as it heads to 1073, 1097. Not guaranteed, just cautionary warning if short. Will need to watch the ES action, stoch, rsi, and price action if it churns around near there.
1062 -- pivot. Over 1062 bullish, under 1062 bearish
1072 -- yesterday's high
1056 --- dbl bottom? overnight low AND yesterday's low...it held support
ES might not make it lower than 1065 / 1061 since in past it has only been retracing 23% lately. So watch this level.
Fib retracements from Tues move up: 1065 (23%), 1061(38%), 1058(50%), 1055(62%), 1045(100%), 1029(162%).
Overnight ES trading:
1071 to 1056 decline fib retrace: 1062 (28%),,,,,1066(62%). Break over 1066 likely means retest of 1071 and possible break higher.
1071 to 1056 decline fibs ext: 1052(23%), 1046(62%), 1040 (100%).
Fib retracements from Tues move up: 1065 (23%), 1061(38%), 1058(50%), 1055(62%), 1045(100%), 1029(162%).
* 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".
always cool
ReplyDeleteold john