Saturday, February 17, 2007

Leg 2 of Bear Break

The ES gave us the PRIME PPF of Support we were looking for, when it hit 1454.50 in PRIME on the Trend Chart. Leg 2 has been created. Going into the close, we are heading back up to challenge last PRIME Resistance at 1461.75 (End of Leg 1 of Bear Break), created the night before. The expectation here, of course would be for PRICE to challenge and breach 1461.75, to give us Leg 3 of Bear Break. At the moment, PRICE is still heading up, on the Trading Chart, so we should see Leg 3 completed by next week's trading session.

To all my Chinese visitors, do have a Happy & Prosperous Lunar New Year!

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