October 18, 2016

  • Weekly chart shows price staying below the resistance zone between 51 - 52.
  • 4 Hour chart price contraction. Staying above the cloud of this time frame will keep bullish strength intact.
  • Weakness if price starts to trade below 4 Hour cloud.
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  • ES Bulls continues to hold above the support zone between 2100 - 2120. Bullish structure in bigger time frame like weekly chart will continue to remain strong if price stay above the support zone.
  • Daily time frame shows little weakness as price stay below 100 Day SMA. Bears need follow up here by breaking below 2100 for bigger falls to happen.
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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