July 13, 2015

 
  • ES Daily moves back above 200 Day SMA.
  • Week took support at 50 Week SMA.
  • Immediate resistance at daily cloud. close above the cloud may give new high's for ES.





  • 50 Day SMA 20 SMA and 38.2% Fib levels are possible support levels. Week needs a close above 20 Week SMA for bigger up moves to happen. Last attempt to close above 20 SMA Failed. Weekly candle looks bears, If price struggles to cross above 20 Week SMA correction is possible.


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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore