ES Journal Archive (2006 - 2008)

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If it can make it down to 1431 off this 1435 pivot high should see a decent bounce. Nice play to get long if you want to trade with the trend.
 
Quote from apex82:

careful in this 1435-1436. critical zone for es and possible another leg down from here if there is not a sustained breakout above.
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Is this a wave 4 until it breaks above 1439.25?
 
Quote from K-Rock:

Is this a wave 4 until it breaks above 1439.25?
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In a way yes, but not of an Ewave. The ES has formed a bullish wedge, the corrections overlap the prior waves. But this wont be cofirmed until a move back above 1436-1437. The only contigency is that has also formed a bearish 12 12 which will come into effect with a break of 1425. That is why you are seeing the consolidation and also the reason not to fade this move when it happens but instead go with it. It will be a monthly breakout.
 
Quote from apex82:

In a way yes, but not of an Ewave. The ES has formed a bullish wedge, the corrections overlap the prior waves. But this wont be cofirmed until a move back above 1436-1437. The only contigency is that has also formed a bearish 12 12 which will come into effect with a break of 1425. That is why you are seeing the consolidation and also the reason not to fade this move when it happens but instead go with it. It will be a monthly breakout.
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what is a bearish 12 12?
 
Quote from JimmyJam:

Holding Short @ 1428.50, think the market wants to re-test yesterday's bottoms and then take-off to the upside, but who knows?

JJ
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Trade stopped-out for -4pts.

JJ
 
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