Monday, June 15, 2015

S&P Big Picture

At long last some significant movement in the four chaos lines indicator on the ES EMINI Daily chart - in particular the white and purple line crosses are very significant.  It crossed over (bullish) and now crossed back down (bearish) would be the latest signal (orange arrows pointing to it).  It would be excellent from here to mirror the cross-overs in trading, and so the current signal would be to go short here at 2073.   The overall picture of all indicators is bearish because the mid-line (1547) is exerting downward pressure, which gives one a great deal of confidence taking the bearish crossovers can be held comfortably   As things stand, the initial target for the short if the downward drift continues would be the 1836/7, one of the thin orange lines.  But again, if the white line crosses back over the purple the position to be reversed immediately (constitutes the stop and reversal signal)







   

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