1.MarchEScontractclosedthedaysittingjustabove1846supportafterfailedtostayabovetheimportant71-2levelreachedduringtheON.Around46-9isakeyR/Szone.Thedailylowprintedat41.5.Belowthatwearetalkingabout34.5asmajorand37-8,28asminorsupports.Marketinternalsweakenfurtherthoughalldailyindicatorsarestillinbullishterritory.Closeisunderpinkynear54(resistance)andthethickblueisat32near34support.Henceitwon'tbeasurpri...[
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1.Alright,EStestedour55support(touchedPinky)andboundedoffit.Itthenturnedaroundandtestedthe68resistanceandhavebeentradingunderitformostoftheafternoon.SoourR/Slevelsareworkingprettywellsofar.ThebigpictureondailyhoweveristhatESisnotoutofwateryetsincealltheactiontodaywasunder71-2level,actingas楚河汉界forbulls/bears.Indicatorsfordailyarestillinbearishmodedespitemakingfewimprovementshereorther...[
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1.WedidgetearlymorningstrengthafteropenandEStested81Randrejectedpromptly.Sellersteppedinandbullscouldnotdefend71andwesawthemarketmovedlowertothenextsupportareaof66.Since66havebeenbrieflyviolatedandONdiddiagainIthinkthepossibilitywewillsee55,49.5increasedsignificantlyinthenextfewsessions.Chartwiseondailychartwegotalongbodyredcandlepinkyturnedflatsittingnear50s.Indicatorsondailyarestillinb...[
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1.AsexpectedtheweaknessonFridaycarriedoverandEStradedbasicallyflat/slightlydown.Thegoodnewsisthe66.5supportheldduringthemorningtestandESprettymuchwastradingwateraroundour71.5level.Dailyindicatorsremainedinbullcampandmomentumdeclinedagainduetonarrowrangeandflatmarket.Dailyclosewasabovethetoptradingbandandrainbowexpanded.Narrowbodiesandlongwhiskersareindicativeofhesitationafteranicerun-up....[
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1.AnothernewalltimehighforESandtheweeklychartprintedagreencandlewhichisencouraging.Ifyoulookcarefullyyoucanseepinkyisstartingtoriseagaininadditiontothetradingbandswhichisrisingsteadilysincethestartof2013.DespitethesomewhatweakactiononFriday(seebelow)thelongtermoutlookissolidforbullsasthenewhighissupportedbyanotherSYNCbar.Thatistwoweeksinarownow.
2.ImportantsupportlevelsforLTare:1846....[
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Note:Sorryforgottofinishmycommentslastnight.
Anothernewhighthenconsolidationatanarrowrange.ThehighgotaSYNCsupportbarsothemarketisstillstrong.Pinkyisupandrainbowexpanding,allgoodsigns.Wearegettingcloseto1888anumberIthroughoutafewmonthsagobasedonsomethingthatIhavesinceforgotten.
Underneathwehave79.5&71.5asashorttermsupports.Watchthechannel.
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Aquietconsolidationdayafterabigrun-upyesterday.Notmuchtotalkabout.
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1.Thebullishscenariooutlinedthisweekendplayedouttodayalbeitdelayed1daybysomepoliticalnoise.AsImentionedintheweeklycommentsthemarketinternalswassetupforamovetotheupsidetechnically.Aslongas"news"and"events"arenotshockingenoughandtotallysurprisedthemarketparticipantsandchangedtheirsentiments,marketwillgowhereitintended.Todayisaperfectexample.HowevertodayisatoughdayforDTe...[
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1.Whataletdown!Forwhateverreason,thegapdownopenonSundaynightruinedotherwiseanicelookingchart.Welltheshorttermpicturehaschangedduetothisdevelopment.AsImentionedontheweekendcommentsthat48and44-6supportcan'tbeviolatedforneartermbullishscenario.Thegap-downopenandsubsequenttradingtookcareofthat.Ondailychartthecandledroppedbackinsideoftradingbandandturnedgrey.IfyourememberIhavebeentalkingabout...[
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1.ItisobviousthatonthemonthlychartEShasmadeanicerecoveryafterroughJanuary.Themonthlycontinuestoindicatealongtermbullishtrendandshowsnosignoffatigue.EShasbeentradingabovethetradingbandsandpinkyisonanupwardstrajectory.Monthlyindicatorsareashealthyasayoungoxandhasalongwaytoitsprime.ThischartisoneofreasonsthatIhavecomparedthecurrentmarkettotheearly1980sandbelievedthatweareexperiencingamulti-...[
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