ES 60 min... clear trending pattern continues.

Bounces toward moving averages are followed by failures. Guilty until proven innocent.

Edited by ogm, 26 July 2012 - 04:23 AM.

I'll throw in a daily chart too. The weight of evidence is mounting that this backkissing extravaganza is coming the the close. This definitely has been a grind from hell, but more and more sectors, internals and internals indicators are starting to roll over.

And just as I posted this, it looks like the market will break the pattern on 60 min chart at least We are moving with 1 min Euro chart again. So looks like someone said something in Europe again.

Edited by ogm, 26 July 2012 - 05:22 AM.

And just as I posted this, it looks like the market will break the pattern on 60 min chart at least

We are moving with 1 min Euro chart again. So looks like someone said something in Europe again.

Yep appears that way. Best laid plans..... I'd say a 1350 target min. being generated off recent pattern.

Edited by Bangtime, 26 July 2012 - 05:37 AM.

And just as I posted this, it looks like the market will break the pattern on 60 min chart at least

We are moving with 1 min Euro chart again. So looks like someone said something in Europe again.

I think it's the data leaked out ................
ES jumped 10 points in 10 min.

Edited by redfoliage2, 26 July 2012 - 05:41 AM.

And just as I posted this, it looks like the market will break the pattern on 60 min chart at least

We are moving with 1 min Euro chart again. So looks like someone said something in Europe again.

I think it's the data leaked out ................

What data ? I think its a short squeeze. When Euro failed to break down. Just volatility.

Edited by ogm, 26 July 2012 - 05:40 AM.

And just as I posted this, it looks like the market will break the pattern on 60 min chart at least

We are moving with 1 min Euro chart again. So looks like someone said something in Europe again.

Yep appears that way. Best laid plans..... I'd say a 1350 target min. being generated off recent pattern.

Could be. I'm still short NQs and they are coming close to my stop. But they are still underperforming, comparing to ES.

And just as I posted this, it looks like the market will break the pattern on 60 min chart at least

We are moving with 1 min Euro chart again. So looks like someone said something in Europe again.

http://www.marketwat...2-07-26-6913814

Another convincing "Whatever it takes" comment. I keep wondering how long such silliness will move markets.

And just as I posted this, it looks like the market will break the pattern on 60 min chart at least

We are moving with 1 min Euro chart again. So looks like someone said something in Europe again.

I think it's the data leaked out ................

What data ? I think its a short squeeze. When Euro failed to break down. Just volatility.

Durable Goods and employment at 8:30 am today. Yesterday I warned that shorts need to cover and it's due for an over-sold rally.......

Edited by redfoliage2, 26 July 2012 - 05:46 AM.

And just as I posted this, it looks like the market will break the pattern on 60 min chart at least

We are moving with 1 min Euro chart again. So looks like someone said something in Europe again.

http://www.marketwat...2-07-26-6913814

Another convincing "Whatever it takes" comment. I keep wondering how long such silliness will move markets.

Unfortunately probably untill they do something, and it turns out it wasn't enough. But yes, its getting old. They are starting to take it out of the Fed's playbook. "Use the words, instead of real actions, while it works"

Everyone knows what it takes to preserve the Euro.. Write off Spain/Italy/Portugal/Greece/Ireland debts and print more money to recapitalize the banks that will take enormous losses on those writeoffs. But will the do it ?

Edited by ogm, 26 July 2012 - 05:48 AM.