Friday, May 25, 2007

3 Leg Bull Break Complete - BEAR TREND (TREND Chart)

The ES is officially in a BEAR TREND. The 3 Leg Bull Break is as follows:

Start of Leg 1 - 1535.75 / End of Leg 1 - 1521.50 (Lower PRIME Low)
Start of Leg 2 - 1521.50 / End of Leg 2 - 1532.50 (Lower PRIME High)
Start of Leg 3 - 1532.50 / End of Leg 3 - still in progress. No signs of failure as yet (Lower PRIME Low).

Do note that however, on the SWING Chart basis, we are still on a Bull TREND & PRICE is now in PRIME Support, above last PRIME Support at 1496.00 - but a failure of the down move is needed to send PRICEs back up again, to challenge last PRIME Resistance at 1535.75

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