July 21, 2015

  • ES one hour testing the cloud.
  • 4 Hour chart shows price pausing at previous resistance zone.
  • Daily chart is out of the range But price is pausing near the recent high's. Weakness here may take price back into the daily range again.

  • First chart shows how bulls avoided a Death cross from happening with a powerful reversal from 17174 level. This up move is still intact but price is showing signs of weakness which is not confirmed yet. Weakness is seen at the Golden ratio along with negative divergence in MACD Histogram.
  • Bears need a daily close below 18860 levels for a possible extension of weakness. 


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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