ES Journal Archive (2006 - 2008)

reversal off 23.50 here sets up the move down..

 

This is why you want to watch both time based and non time base charts.

5 min vs. 5 point

 

The TRIANGLE

which way?

UP?

DOWN?

let's have a poll

see attached

 

FAKE MOVE UP?

or the real thing?

 

At this time there was only 1 triangle, an ascending one, but as LC noted, it took forever (6 tries) to break out to the upside.

 

Staging an upset to the long ... may not make it to R1 (38)

Too much buying power wasted.

Edit: Confirmed double top now

 

We need to close above the 200 moving av on the 15min chart for this to be real.

 

looks more like a wedge

 

Out +4.0.

That was a pretty quick move did news come out?

 

Didn't like OBAMA's offerings at news conference

Market fell through --- broken wedge

Will it revert to original breakout direction?