Monday, September 21, 2009

Afternoon Delight - The New /ES Channel (DOWN)

Read 'em and weep. I like series of lower highs and lower lows. The thick blue line is the rising wedge top line.


  1. so you calling p2 top here?

    on ung, the daily chart is perking up, looks like good support at 11.25 gap area, what are your thoughts?

  2. Ya, but the problem is that this parallel down channel can be a bull flag... until we break down and out of this channel and make sure we don't get back in it again, then bears may have some hope... or else, another bull flag and bulls probably wait for FED FOMC day to do more short squeeze...

  3. Anon 1- No top call for P2 yet. I think there is one more run. I believe the top will be so clear you'll be able to see it from the moon. UNG looks to be in a 4 with a 5 to go, but the indicators do not look good. If it was an ABC it has topped. I also have a completed wedge possibility on my 30m chart. Tough call, but I do not like how the indicators look.

    Anon2 - Looks kike a 4 down to me. If it should take out 990 low, I may have missed the top. I have full failth in Ben and friends to push it up one more time. I am in UUP, SDS and VXX looking to add if I have to. My main key is the RSI trendline on the weekly SPX. It ain't ready just yet.


Keep it civil and respectful to others.