
NOTE:
TheON(overnight)weaknessdidnotcarryoverintoRTH(regulartradinghour)EStestedthe38supportbeforeralliedandclosedtodayrightatour54-5resistance(54.75).Finallywegotalongbodycandlewithoutwhiskerontop.Howevercandlecolorrevertedtogreyagain.IndicatorsareallbullishandmomentumhasincreasedandESalsoprintedaSYNCstick.ThereforeIexpectfurtherstrengthneartermandEStoprintnewalltimehighs.
Wehaveasim...[
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Note:
FinallyDailycandleturnedgreen.NowthequestionisifitcomesabittoolateandifESisnearashorttermtop?Thedailycontinuedit'srangeactiontodayandPinkystartedtoflattenandthecandleisabovetheuppertradingband.SotechnicallyitdoesnotlookbadandEScouldbejustconsolidatingafterthenewalltimehigh.
Onthe3-hourchartEStestedthelowertradingband/also38supportandbounceoffthesupportleavingalongtailedhammerlikecand...[
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Note:
Onthedailychartwegotaninsidedaywhichisnormalafterawiderangeday.ESwastryingtodigestthenewdevelopmentandbullsandbearsaresizingeachotherandprepareforthenextmove.Thetradingactionhasbeenbracketedby37supportand51resistancesofar.Thelowofthedaymanagedtostayjustabovethelowertradingbandandpinkycontinuedtoinchhigher,allarepositivesignsforbulls.Indicatorsarealsobullishexceptthegreencandlehasnotarriv...[
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Note:Pleaseignorethelastunfinishedbar.
Theweaknessonlastweek's3-hchartwasshortlivedandESreboundedduringONandleadtoanicedayforbulls.Howevertheclosewasabitofletdowngivingbackabout1/2ofthemorninggain.Stillanalltimehighwithcloseabovethepinkylinestrengthenedthebullishscenario.Risingpinkyandexpandingrainbowagreedwithbullishindicatorsimpliedhigherpricenearterm.Pinkyfordailyand3-hourarenear23and4...[
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NOTE:
WeeklychartcontinuedtopaintarangemarketwithanupsidepotentialassuggestedbyaflatPinkyandpositiveFVOandSYNC.Pinkyissittingat1791soaswingabout45handlesaround1791shouldnotbeasurprisehere.NoticingthelowertradingbandandThickbluearenear1745areaaswell.ThedojicandleisaconcernbutwithnoindicatorssuggestinganybearishnessyetIwilltreatitasasignofconsolidationtodigestgainsmadefromlast2weeks.Weeklyclosea...[
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NOTE:Today'scandlechartsareHeikinAshicandlechartstoillustratetheindecisionofthecurrentmarket.
Daily'shadprintedtwospinningcandlesinarowandcandlesarestillgrey.Sothismarketisnotonlyuncertainaboutdirectionbutalsoweak.Ifulookbackthestrongtrendsusuallyprintedgreencandlesearlyisthetrend.Whengreencandlesappearedlatethetrendnormallyrevertedquickly.Wegot4candlesconsolidatingattheuppertradingbandandpinky...[
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Note:
Wedidnotgetthevolatilitybutwedidgettheexpectedweakness.Oncetherunfornewhighstoppeddeadinthemiddleoftheresistance44-5,ESpromptlyretreatedalltheto1823supportandisnowtradingnear28.Pinkystartstoflattenandmomentumcontinuestodiminishingondailysuggestingtradingrangemarket.
The3-hoursufferedmoredamageandESevenprintedaredcandle.Thecloseisbelowthelowertradingbandandthethickblue.Pinkywentdownandind...[
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Note:
ESliterallytradedsidewaytodayandthedailyclosedabovetheuppertradingbandwithaSYNCstickonagreycandlewithdecreasedmomentum(LMI).NormallywhenSYNCstickscomeearlyinabreakoutwhichdemonstratethestrengthofthebreakoutoftenonawiderangebarwithgreenorred.Howeverthecurrentstickarriveslateandonagreycandle.Thiscouldhappennearatopofarangemarketwhichiswhattheweeklychartsuggested.Unlesstomorrow'sFOMCstatemen...[
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Note:
1.Theweeklyissayingcorrectionislikelyoverifwedon'tgetmoreweeklyclosebelow1790.IfEScouldstartprintingweeklygreencandles,thechanceof1900isverygood.
2.Dailycharthasmanagedacloseabovetheuppertradingbandandclosedabovethe31.25resistance.Indicatorsareallbullishandtradingactionabove1800isbullishandbelow1770isgoodforabearishscenario.
3.The3hchartisalsoingoodshapeafterbreakingthroughthe31....[
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DailyNote:ESbrokethroughthe23resistancetodayandconsolidatednearhighjustunder28whichwasareactionhighstartedthenastydeclineaweekago.Sokeepwatch28forclueforSTdirection.Resistancesbeyond28willbenear31.5and44-5anditappearsESintendstotestthehighbasedthis3hchart.TheweaknessweobservedyesterdaymaterializedduringnightsessionandESretreatedtooursupport1803andreboundedtostarttoday'srally.Rainbowhascompletedits...[
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