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Tuesday, November 22, 2011

Tuesday, 11/22/11 update

Buy signal on SPX/Vindicator, went long ES.

Elliott pattern on the ES has been very difficult as of late, but it looks like the correction that's been in progress since Oct 27 could well be over as of today's low at 1179.25. A 50% retrace of the October rally is at 1178.75, pretty doggone close to today's low.


  1. I love your vindicator.  Thank you for sharing your analysis.

  2. Thanks, except long ES from today is not looking very good, could get blown out - my stop is at today's low of 1179.25.........

  3. Yea that's strange. Your signal is usually good for follow through the next day at least. But it's a choppy market right now. I'm watching for the qqq's to close back inside the bollinger bands to confirm a buy. Have a great Thsnksgiving.