Tuesday, March 06, 2007

Still Lower PRIME Highs & Lower PRIME Lows

Last night, the ES continued its Trend of Lower PRIME Highs & Lower PRIME Lows. Before signing off last night, there seemed to be a possible chance of a PRIME Low to at least bring us back up to challenge last PRIME Resistance but alas, it was not to be.
1) We have a 2 X Divergence Bottom on the TREND Chart &
2) a possible 3 x Divergence Bottom setting up on the Swing Chart.
With a 10pt upswing in Globex just after the close of the normal session, we could see a decent upmove again tonight, if we get a PPF of sorts (pullback to challenge the lows), in Minor or PRIME, in place.

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