ES U8 Daily Chart June 20/2008 This chart is from broker and not all that great. Will post better chart when data is restored to charting platform. Daily ES bar made a LL and a LH on increasing dominant volume today. Price closed outside of the lateral movement that began on June 11. Volatility expansion increased for the second time of the dominant down channel. Range of daily bar = 28.25 points Volume exceeded yesterday by 169,272. Close of daily bar = 11% of total range today.
ES U8 Monthly Chart Update Monthly chart for June has six trading days remaining. To confirm the point 3 down channel, a total of 6,200,001 in volume is needed over 6 days. That is a 1,034,000 a day average. June has averaged 1.98 million per day so far.
Took a short postion. WMCN: Increasing red volume. to confirm pt 3. oops, forgot to change color of gaussian. Should be B/\R followed by R/\B <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1968499">
ES U8 Daily Chart June/23/ 2008 Daily ES bar formed an inside bar today finishing the day a Sym Pennant. Daily bar also had decreasing volume and volatility. Daily bar range = 11 points Volume = 62% of previous bar Close of bar = 16% of range today.