/ES Daily
For my true channelers that follow my blog and somewhat understand the concept of the channel system we have posted this chart below. It shows that the /ES did a shooting star and closed under the channel like we were expecting. We had one pause day and then a sell day on Wednesday that recovered a lot of the daily loss. Now we have traded in a downward sloping channel and have broke out of it. What can you expect? Well the trend is still up as we have not had any serious damage done, so I'm looking for a back test of the upward channel that was broken on the /ES 60 min chart and then will see if it holds and the uptrend continues. All this chop chop shit is happening because most investors or whatever you choose to call them lol, are waiting for the election stuff and all the QE2 Crap. Also take a look at the 60 min chart of the /ES and just look at the volume. Every time we sell off it followed by increased buying!! Whats up with that ? IDK I just play the trend and try and help you guys make money!! Also if you take a look at the 5 min /ES chart you see a possible inverse head and shoulders with the right shoulder extending to the right more. One thing to remember a failed move comes a fast move. Lets see what they want to do today ? Good Luck!
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