ES Journal Archive (2009 - 2010)

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For sell off to continue, there are several ways ...

1. H&S with neckline at 57, shoulder top at 61

2. VWAP acts as resistance at 59-60 and press the price down to ORL

3. melt down from here

Bullish scenario can be engaged by simply buying when PP acts as support after it is taken out.
 
Quote from Lawrence Chan:

For sell off to continue, there are several ways ...

1. H&S with neckline at 57, shoulder top at 61

2. VWAP acts as resistance at 59-60 and press the price down to ORL

3. melt down from here

Bullish scenario can be engaged by simply buying when PP acts as support after it is taken out.

#2 - new low for the day is now expected
 
This morning, someone forced for a 1 pt higher low to squeeze the shorts.

Now, we have another 1 pt higher low in the making again.

What will happen next?

Gap fill price at 45-47 area.
 
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