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Monday, October 18, 2010

Monday 10/18/10 update

2:45 pm
Last night's sell signal on hourly ES is canceled with today's new highs.  Comment this morning concerning triangle and anticipated thrust in preceding direction has played out as anticipated.

8:35 AM
Sell signal on hourly ES overnight when prices closed below uptrend line dating from Oct. 4 - Dyn Osc was already below 80.

However daily ES still showing UP trend.

Pattern on the hourly ES chart since last Wednesday looks very much like a triangle (wedge) which usually precedes a final thrust in the prior direction, so looks like this is a short term long opportunity developing.
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