May 10, 2016

 
  • Weekly chart shows a descending triangle kind of pattern which is bearish. Week or daily closing below 92 may trigger a bigger correction for the stock. Month chart shows possibility of price testing the rising support line if 92 is broken

  • ES Bulls trying to protect 50 Day SMA.
  • 4 Hour chart shown as immediate resistance.
  • Bigger weakness only on a daily close below 50 Day SMA.


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My Favourite Quote

"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