Triangle breakout to the upside. Shorts beaware.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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A fight to close today above 8000.
If it failed, it would be a first time 2 days in a row dow close below 8000 ... I guess it is not allowed, yet.
If it failed, it would be a first time 2 days in a row dow close below 8000 ... I guess it is not allowed, yet.
Public has been trained to buy whenever dow is closed or traded below 8000 - as if it is a safety net.
Would that be different this time?
Would that be different this time?
Chart pattern looks breakout. Price movement looks lax. What should we expect?
Higher time frames (4 hr, daily, etc.) all point to continuation sell off.
But 5/15-min, etc. are showing signs of oversold, thus the oversold conditions are being worked out before the down move to resume.
NQ looks ready to roll over... a break of 1206 would void that, but anything under is a nice short.
temporary overbought condition sorted out... it can go wherever the hell it pleases again.
adding 26-26.25, same stop.
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