Well, what a dramatic day it was! Although the last minute sharp drop usually didn’t mean anything, we’ll probably see a rebound Monday, but I think the ES (SPX E-mini futures) 60 min chart below gives a clear overall picture: A Bearish 1-2-3 Formation was confirmed. The target area is around 1103.
As for the firework I talked about yesterday, apparently, it’s a failed setup.
Also, according to my proprietary indicator, it foresees, you, my dear readers, a happy and promising 2010. Happy New Year!
Disclaimer
The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.
This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.
%5B2%5D.jpg "ES 03-10 12_31_2009 (60 Min)")
