1.AverynastydayforEShoweveritisnotasbadasitlooks.PLandTBLcrossoverhasnotoccurredyet.Lowisnearoratthevicinityoflowertradingbandthisisinlinewithatradingrangemarket.Willitevolveintoaseriouscorrectionoreventhedeathofthebulltrend?Itmightbutnotsofastmyfriend,afewdaysdon'tmakeabearmarket.Dailyindicatorsareinbearishcornerandthelowofdayisatour23support.ESisnottoofarfromamajorsupportof11.5whichisalsoourTOL....[
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1.Thisisagooddayforbulls.ESclosedabovetheimportantPLanditavoided3closesinarowbelowPL.PLisveryflatandrangeisstillthedominantforceherealsoindicatorsaremostlyneutraltoslightlybullishwithtoday'saction.Aswingtotheupperchannelandtestnewhighislikely.
2.PLhasjustcrossedTBLanditisupsharplyfromaflatbase.Theshorttermdirectionisupnowandindicatorsareallinbullcampnow.ESisjustunderthe68.5resistance.Below50wi...[
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1.Theimportant34.5supportwasbrieflyviolatedthismorninghoweverthemarketreverseditsdirectionquicklyafterwentaslowas30.75.ThebreachnowhasthelookofabeartrapifEScanmaintainitsmomentum.Actuallythedailycloseisrightonthenowfamous44levelagainandourminorsupport41-2hasbeentestedseveraltimedthisafternoonanditisstillintact.DailyPLisflatandcontinuetosuggestrangeactionandindicatorsstartingtoshowsomebearishness.A...[
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1.Thesupportbetween51and60zonefailedtostopsellersandESclosednearthelowertradingbandandbelowtheimportant44.ItappearsthatESnowistrappedinawidertradingrangebetween1890to1820s.AlthoughPLhasnotcrossedTBLyetdailyindicatorsarenowneutral.Wehave1dailycloseunderPLnowandifwehavetwomoreclosesunderPLthecrossoverwilllikelyhappenandbearswillhavetheupperhands,especiallyif1811.5supportispenetrated.
2.ESisextre...[
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1.WehaveaweeklynewhighbutESclosedonaratherweaknote.Stillitprintedagreencandleandthehightouchedtheuppertradingband.PLisslightlyupandthetradingbandaswell.SoweeklyESstillhasabullishbias.Exceptmomentumisdecreasingtherestindicatorsareallinbullishcorner.
2.DailytouchedtheratherflatupperbandandsellerspiledonandESdroppedallthewaytothemidlineandthePL(1860).Buyersshouldstepinorthesellingcouldsnowba...[
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1.Arelativenarrowrangedaytradedmostlysidewayafteranicerunisgenerallygoodtodigestthegainandregainitsbreathforthenextlegup.Thestrengthisratherobviouswithastrongfinish.INadditionESprintedaSYNCbartogoalongwithagreencandle.Indicatorsarebullishanddailyisabitofoverbought.Ithinkwecouldseeabitmoresidewayactionherebeforethenextbigmove.Tradingbandsarewideandflat.Itistoughtogetaseriousmovewhenbandsarethiswide...[
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1.Dailyisclosetomakeanewhighandtheupperbandresistance.Priceisapproachingoverboughtzone.PerhapssomeconsolidationactionisnearsinceEShasmadeanicemove4daysinarow.
2.3-Hourchartshowstheupwardsmomentumisslowingandpriceishuggingtheupperband.
3.RSLevels:88,81,78,75,68,62.5,58.75,51-2,48
Daily
3-Hour
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1.DailyESprintedanicegreencandleandPLstartstotrendingup.Ifyouhavefollowedmyblogcloselyyouknowwhatthismeans.EspeciallyafteralongperiodofflatPL.IndicatorsareallbullishandPLhaskissedtheTBLandbounceup.Thereisunlikelyanyimmediatebearishthreatnowbasedonthechart.
2.Rainbowhascompleteditsrolloveronthe3-hchartandPLandbandsareallup.PriceactionisabovebothPLandupperbandsuggestingahealthytrend.ASYNCbarhasb...[
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1.ESendedthemonthwithabullishcandleandalltimemonthlyhigh.MonthlyindicatorsarebullishandthenewalltimehighissupportedbyaSYNCbar.Nosignofweaknessyetandthelongtermbulltrendisinnoimmediatedanger.Thecandlehasanarrowbodyrelativetopreviousmonthswithshorttailsonbothsides,agreeswithamostlyrangeactionmonth.
2.Agapopenwhichhasnotbeenfilledduringthedaysuggestsstrength.SinceESgapedawayfromtheimportantmagnet...[
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1.ESfinishedtheweekwithaninsidebarindicatinglowervolatilitywhichagreeswiththerangeactionwehaveexperienceindailyand3-hourcharts.Theoveralltechnicalparametersforweeklyremainbullish.PLisnear1811.2supporthenceatestofthissupportwillnotchangethebullishoutlookatall.Infactadeclineto1750won'tdoiteither.Justtoshowhowstrongtheweeklychartisandhowmuchworkbearshavetodotoendthecurrentbullmarket.
2.Dailyhasal...[
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