July 25, 2011

ES Bear Flag and Hourly Chart

  • The Gap Down Opening took price below 50 Hour moving average. But price did not test 200 Hour moving average.
  • Large correction may happen only if price stays below 200 Hour moving average.
  • 15 Minutes chart shows a bearish flag pattern. This one can go both ways an upper breakout may fill the remaining Gap and downside break may give 1323 level again.
  • S&P 500 WEEKEND UPDATE

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