Monday, November 9, 2009

ES watch

Since sis does not have the platform to view ES, I'll post a pic for her to see. Here's the combined charts of 12 min, 60 min, 300 min and daily.

You can see that I'm in the view that the uptrend might not last too long. Let's take a look at the daily chart.

If you're bearish, like me, you'll want to look at the last high of 1,100 tested again. It will be especially significant if it is tested with lower macd-h, thus forming a bearish Class A divergence. If it fails to break resistance of 1,100, a false breakout + divergence will be set up. Not something to trifle with.

Verdict? Take some profits when possible. Free up your cash for some real good Christmas shopping.

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