ES Journal - 2016

That is my view for now.

 

I agree with your view...Still appears to be a controlled range for the time being...Rewarded for selling rallies and buying breaks below recent swing lows.

 

above price structure usually leads to intermediate term climactic selling/ ..to 2010.. or so.

USD/JPY .. everyone is looking at 105.. to see if it will hold.. so no true buyers till 105 is tested.

 

Triple rejection of resistance zone on daily, let's see how low this will go. Russell monthly classic 3 lower highs, now been rejected at 10 SMA MONTHLY.

 

Algo's need some "hawkish" talk.

 

There are still places to short. My point is while the market was trading in a smooth upward trend I didn't think it was a good idea to jump in short. There have now been quite a few -10 point ranges during the day from the open. Hopefully we get some more.

 

I'm showing 2009 touch

 

and this certainly played out.

 

worked out.