Tuesday, March 20, 2007

Strong Close

The ES continued to power higher for the most of yesterday's session. With last PRIME High of 1426.25 as the target (Swing Basis), PRICE will continue to head up until it fails. In order to reverse the damage done in the last 2 weeks, we need PRICE to breach this Resistance level, in order for the Bull to continue (Swing Basis). The Bull Break was invalidated as it stopped short of Leg 3 being created.
The closer we get to 1426.25, the chances of the Charging Bull returning increases.

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