Saturday, June 21, 2008

Bear TREND

My ES POSITION Chart above...

My ES SWING Chart above...

My ES TREND Chart above...
Thursday's PRIME HH proved to be just a blip as the Bear TREND asserted itself again last night, by invalidating the previous day's Leg 1 of Bull Break with a PRIME LL, followed by PRIME LH and PRIME LL again - Clearly, Bear TREND PRICE actions.
Looking at the SWING chart shown above, PRICE still needs to create a PRIME LH, to be in line with the Bear TREND PRICE action as well...So, expectations would be for a possible pull back in PRICE, in PRIME, to challenge last PRIME Resistance, before the resumption of downward pressure.
PRICE will continue in the direction it is going, until it fails.



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