ES target play

The completion of this play targets 1354 ES


The chart

ES stretched it a little. The hourly ES chart printed aTD Trend Exhaustion (high) signal at the close, and had a TDSEQ Sell set up, as did $INX. Others are close. XLF hourly completed a sell countdown at it's TD Supply line. $INDU, $INX, ES, $COMPX, XLF, XLE, APPL daily charts printed pivot highs and exhaustion up signals. $INDU, $Compx, XLF, APPL hit their TD Supply (resistance) lines. $Compx and $INX closed just at their TD Propulsion upside threshholds (if calculated from the Oct 2011 low). RSI Today was the conjuction of the 21 and 84 day cycles that I track on $INDU. There are still incomplete signals to the downside. Wondering if this might be similar to 7/21/2012. The day counts from the highs are similar. We are about the simple fib 62 days from the April high in $INX. Nibbled short at the close. Thx for your work, MT. I check it almost every day!!! Have a great weekend. Geo

Edited by Geomean, 29 June 2012 - 03:57 PM.

I nibbled short at/after the close too, via tza. Got some at 18.00-18.05
RUT is at the DTL from the March highs at the close.
Hurst cycles still bullish to 1400 SPX target, so looking for a pullback here to flip long again.
Maybe we can get ES down to 1338 for the flip...

http://stockcharts.com/c-sc/sc?s=$RUT&p=D&yr=0&mn=6&dy=0&i=p16385347274&a=270797223&r=1341086512428.png

BTW, RUT 803-4 is the "fake out/ breakout" target for the DTL as it is the 61.8% retrace of the entire decline off the March highs. Above 804, I am out of my pullback short attempt and back long as the next resistance would be 820 as the 75% retrace abd then the May 1st highs at 830.


http://stockcharts.com/c-sc/sc?s=$RUT&p=D&yr=0&mn=6&dy=0&i=p16385347274&a=270797223&r=1341089421824.png


ATB,
Doc