Wednesday, May 1, 2013

Megaphone breakdown

Chris says we have a megaphone type breakdown in ES, so I tried to recreate it like he lays it out in his newsletter. Entry is basically a break of the previous days bar.

ES looks like its setting up a bear flag on the hourly. First level down is 1571, which is in my opinion is key support and bears need to break through that before making any real progress.  1557 is the next main downside target that I have, which I think we might hit this week.

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