This is what is called a two step or ABC pattern with equal
waves. Will it break up further? Maybe, but that's one thing
to watch for possible targets and when exceeded (by a fair amount)
then that pattern is negated.
ES Target is 1085.39 then 1083.66 on ES 15 minute. Have
you noticed that the NDX is not confirming these lows as yet?
Keep watching as intermarket divergences normally occur at
turning points.
SPX 1
Posted by steve on 11th of Aug 2010 at 02:35 pm
This is what is called a two step or ABC pattern with equal waves. Will it break up further? Maybe, but that's one thing to watch for possible targets and when exceeded (by a fair amount) then that pattern is negated.
so we failed now is
Posted by rkelman on 11th of Aug 2010 at 02:47 pm
so we failed now is 1089 support
ES Target is 1085.39 then
Posted by steve on 11th of Aug 2010 at 02:53 pm
ES Target is 1085.39 then 1083.66 on ES 15 minute. Have you noticed that the NDX is not confirming these lows as yet? Keep watching as intermarket divergences normally occur at turning points.
it's getting late in the
Posted by dylan398 on 11th of Aug 2010 at 03:24 pm
it's getting late in the day now...and Thursdays are better turnaround days...love to see an early flush tomorrow