Crude 1100 High 30 minute price bar and 1130 Q Valley Low, now the reaction off the 1130 Low, back at the 0930 Sym Peak and Valley price level. I think it should hit the 3 x 2 at 46.00 reverse and go back down until 1330.
Strong reaction off of the 1130 Q...Critical point for Crude now, if they can't bring it back under 46.00 they are likely to continue up until 1330. Q's are always swinging the market back and forth because they effect the price bar before them and complete symmetry on the time frame they occur, also reactions like the one you just saw is not uncommon.
Crude pretty much a dud today, too many Q swings to offset any possible follow through. Making a Low 20 cents lower from the original signal with all kinds of risks is not hardly what I would call a good trade. Done for the day. ES has done exactly what the data said it would.
Here are the charts for the ES Daily from 4/4 to 7/1/16. They show the tops and bottoms throughout these 4 charts. Price in itself does not determine whether the market is going up or down, it is just the medium of exchange, or the result of an exchange. The market moves up or down based on Power Laws of sequences and symmetry. In 2008 I submitted my forecast to Benoit Mandelbrot. He was intrigued enough and asked me to write a paper. Unfortunately I had to decline to preserve the integrity of my work. I have the email from Eva his secretary and I'm sure the email is still on some Yale server somewhere. Anyway here are the 4 charts and of course I have a forecast from 7/4 to 9/30/16 on the ES Daily. Still with this information there is a learning curve to understanding it, but it's not hard. The biggest challenge for yourself is to remove your ideas or information about how the markets really work.
The red bar down on 7/15 for the Daily is looking more like a reversal buy now. If this be the case then we go up until 7/27 or 7/28, instead of selling off until then. We'll know soon enough by the end of 7/18. Either way what direction we decide to go will continue until the 27th or 28th.
They can't make up their mind on the ES. Crude finally is trending in 1 direction at this time. I have other commitments out of town today so I am only posting the ES 4 Charts. Looking choppy for the most part. You may get a run after 1230/1300
ES 7/19/16...We are going to have a nice trend emerge this afternoon. It's pretty obvious from the charts.
I believe our Lows will happen during 1330 or 1400, then we should begin an uptrend. We may hit the lower Bollinger Band. You haven't seen one of the distance charts before.