1.ESdailyprintedadojilikeredcandlewhichfurthercomplicatedtheshorttermoutlook.Sinceadojiimpliesreversalandaredcandleindicatesweakness.Wegot2dailyclosesunderthePL(51)nowandifwegetanotherclosebelowPLtomorrowthelikelihoodoffutureweaknessishigh.Apieceofgoodnewscomesfromtheclosewhichisrightattheimportant44level.Alsothenextsupport(34.5)wastestedTWICEtodayandheld.IftomorrowESdecidestotest34.5againIthinkit...[
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1.EScontinuedtoswingaroundthePL(51)todayandthistimeittestedthe44-5support.Thelowwasmadeatour41-2support.SinceESclosedrightatthe44-5levelandremainedaboveTBLnothingreallychangedondaily.DailyindicatorsareoverallneutralandPLisflat.Rangeactionisstillineffect.Nowiftomorrow'scloseisbelow44(TBL)thebalancecouldshiftquicklytobearish.Anywaywewillcontinuetowaitfortheendofthetradingrange.
2.3-hourchartgotu...[
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1.Thesidewaytradingisgettingcloserandclosertoaresolution.EScontinuestotrademostlyaboveflatPL.Indicatorsarestillinbullishmodeanddailyremainsitssideway/bullishpasture.
2.Today'stradingshowedtheswingaroundaverytightrainbowbandaround56-7zone.Thecandleswithlongwhiskersindicateindecisionand56-7continuestoservesasamagnetfor3hourchart.Sincethecenterlinefordailyisnear51-2and3-Hisnear56-7,itsuggestsabul...[
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1.Fromyesterday'scomments:"....break54willserveasearlywarningandbelow51willturntosideway/bearishbias".ESdidjustthatanddailytechnicalhasturnedintoasideway/bearishbiasnow.PLisstillveryflatandtradingbandshavealsoflatten.DailyindicatorsarestillinbullishterritorybutthatcouldchangeinaheartbeatifESbreakdownsuchasclosingbelow44.SobasicallyESisprimedforsomeactionsoon.Upordown?Itisanybody'sguessho...[
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1.WeeklyprintedagreycandlewithlownearmidtradingbandandabovePL/trendline(~1811)whichwillbeakeysupportlevelforthecurrentbullishtrend.Thenextimportantweeklysupportisaround1750s.AllindicatorsarestillbullishhoweverESisstartingtolosemomentumcorrelatedto2weeklycloseoffthehigh.Weeklycontinuestosuggestabullishmarket.
2.Thesidewayactioncontinuedondailychartandtheearlymorningstrengthquicklyfadedandleftus...[
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1.ESbehavedasIhaveexpectedinasidewayfashionaroundpinky(1851)whichisveryflat.Thetradingisabove51sothebullishbiasremainsintact.Thickblueline(TBL)isapproachingpinky(PL)andthe44-6zonecontinuestosupportthedailylow.IfEScanbreakthe66-7resistanceitwilllikelytestthehigh/theuppertradingband.Dailyindicatorsareallbullish.
2.Onthe3-hchartPLbrieflycrossedTBLandquicklycorrecteditselfandallindicatorsareinbull...[
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1.Today'stradingactionplayedoutaccordingtomylastnightassessmentofashorttermtradingrangemarketandIexpectthiswillcontinueabitlongerbeforeESisreadytocommittoadirection(whenpinkyandthickbluerendezvousandrainbowtightenfurther).Indicatorsremaininbullishterritory.Pinkyisnear51andtoday'scloseshouldberightnearpinkyagainunlessthenext30minutesofextendedhourtradingcanpushESmuchlower(~49now).ThereforeESbasedon...[
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1.Ifyouhavebeenlisteningtomydailynonsenseyouwouldhavenoticedthatdailycloseonlyhave2days(LastThursdayandFriday)underpinkyandEShassinceclosedabovepinky.Thisisagoodsignandthebullishtrendhasnotbeenviolatedbasedonthissimplerule.Today'scloseisabovethe57.5levelandhencedailyisrangeactionwithbullishbias.Pinkycontinuestoflattenandrainbowiscontracting.MomentumstartsrisingagainwhileFVOandSYNCorangeremaininbul...[
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Note:
1.DailychartsuggestsashorttermrangeactionaroundPinkywhichservesasamagnetaround51.Indicatorsremainbullishandrainbowiscontracting.
2.ESrallystalledunderatightrainbowtoday.Rainbowisrollingtothedownsidewiththickorangepointsdown.PinkyandthickbluearedueforarendezvousandifpinkybouncesoffitESwillmakeanotherattemptfor23oreven11.5.Above57.5levelisbullishzoneandbelowisbearishzone.Indicatorsfor3...[
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Note:ItwastheweekforEScontractchangefromH4toM4soFriday'sdatawasESM4,theJunecontract.SothelevelsarealittleiffyuntilMarchexpiration.
1.WeeklyESprintedagreenbarwhichisaninsidecandleorHarami(inthiscaseabearishharimicandle).Aharamiisatop/bottomcandleformationandisnotveryreliable.Thereforewewon'tbaseonouranalysisonthispatternalone.TheweeklyindicatorsarestillinsolidbullishmodeexceptthatESisalittleove...[
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