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1. A very nasty day for ES however it is not as bad as it looks. PL and TBL crossover has not occurred yet. Low is near or at the vicinity of lower trading band this is in line with a trading range market. Will it evolve into a serious correction or even the death of the bull trend? It might but not so fast my friend, a few days don't make a bear market. Daily indicators are in bearish corner and the low of day is at our 23 support. ES is not too far from a major support of 11.5 which is also our TOL. I think that is good place for a duel between bulls and bears and we will wait for the outcome of the duel to decide
2. Indicators for 3-H turned bearish during the afternoon. Several key supports gave away today and the way PL kissed the TOL and rejected by TOL is certainly not looking good for ST direction. and the chart suggests a likely target zone are somewhere near (perhaps 97-8). So watch 23 support again if it fails that is the likely target for ST.
3. RS levels: 88.5, 81.5, 77, 74, 68.5, 64, 56, 44-5, 40, 34.5, 28, 23, 11.5.
4. I may not be able to update this blog daily due to my health issue especially during early May period. Thank you for your support and I will try my best to update it as often as I can. Good luck my friends.
Daily
3-Hour
2. Indicators for 3-H turned bearish during the afternoon. Several key supports gave away today and the way PL kissed the TOL and rejected by TOL is certainly not looking good for ST direction. and the chart suggests a likely target zone are somewhere near (perhaps 97-8). So watch 23 support again if it fails that is the likely target for ST.
3. RS levels: 88.5, 81.5, 77, 74, 68.5, 64, 56, 44-5, 40, 34.5, 28, 23, 11.5.
4. I may not be able to update this blog daily due to my health issue especially during early May period. Thank you for your support and I will try my best to update it as often as I can. Good luck my friends.
Daily
3-Hour
Hopefully you will be recovered soon.