previously I'd thought that the ES might have dropped and run up for a small reversal
http://www.elitetrader.com/vb/showthread.php?s=&threadid=206242
formation before beginning its downside. that didn't happen and I don't believe it will
so the downside's begun and I think so far the ES May have completed waves 1 and
2 of the first major wave down
several years ago many people looking at the Monthly chart were asking if the top
of 2007 was a double top, an inverted H&S
but after the price dropped to its 09 low, has the formation become an ABC ?
the rally up until April 26 may be W 1 of the new bull market, reversal formation,
then this beginning downside may also be C of an ABC that may drop to 1000 early
in q2 , and then begin a quite large W 3 to new highs
1173 should be broken before the new week's end, closing below it and W 3's on
gold's topped and gone thru its own H&S, the $'s begun it's new bull market - not
surprisingly given what's going on in euroland, so the next quarter - the slowest time
of the year is a good time for the correction to complete down to . . .
if the ES drops and stops around 1010 the ABC will be a respectable horizontal
formation, and to paraphrase Chauncey Gardner, the new season of growth begins
http://www.elitetrader.com/vb/showthread.php?s=&threadid=206242
formation before beginning its downside. that didn't happen and I don't believe it will
so the downside's begun and I think so far the ES May have completed waves 1 and
2 of the first major wave down
several years ago many people looking at the Monthly chart were asking if the top
of 2007 was a double top, an inverted H&S
but after the price dropped to its 09 low, has the formation become an ABC ?
the rally up until April 26 may be W 1 of the new bull market, reversal formation,
then this beginning downside may also be C of an ABC that may drop to 1000 early
in q2 , and then begin a quite large W 3 to new highs
1173 should be broken before the new week's end, closing below it and W 3's on
gold's topped and gone thru its own H&S, the $'s begun it's new bull market - not
surprisingly given what's going on in euroland, so the next quarter - the slowest time
of the year is a good time for the correction to complete down to . . .
if the ES drops and stops around 1010 the ABC will be a respectable horizontal
formation, and to paraphrase Chauncey Gardner, the new season of growth begins