Tuesday, August 18, 2009

Looks Like A Bear Flag To Me (/ES 15m Chart)

/ES 15m blue falling wedgie (Let's call that a 1st wave of some sort - not a 1 of a P3 IMO but could be). Breakout channel. Fib retrace zone in yellow above. If corrective is ABC and C=A target 998 right at 61.8 fib retrace and wedgie target. 60m indicators favoring further strength at this point. Who's buying into op ex? You bastards!

New look TOS chart for Shanky - trying to change things up a little.


  1. Hello Shanky!

    You must be ready to make some big profit soon!

    Just a question for you. Sometimes I see you write /ES. what does it mean?


  2. shank, looks like almost ung time

    60 min chart perking up

  3. Tough call after that inventory report. I have not digested it yet. Let it make a clear break of the 20ms IMO. I'd say it is worth a shot right here with a tight stop. Double bottom, she's testing the 20ma and I think the market may be turning bullish (jury still out there for now). Keep the stop very tight. No buy signal on daily chart and some of the indicators are at a critical point. Bottom could fall out just as well, so be careful.


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