Another "Kill 'em Both Bulls & Bears" Session.

My ES TREND Chart above...
Well, well, well...First, they had the Bears happily shorting the market at the get-go, then they got them covering their shorts, and the Bulls came charging, Then when the Bears were licking their wounds, and the Bulls fueling a Breakout, the Bulls were brought down to earth in a single thud. What a way to end this week's trading. Have a good weekend, everyone!

ES TREND Chart: Change of TREND Last Night...But Seriously, Nothing Has Changed.

My ES TREND Chart above...
It was a trick Houdini himself would have been proud of but last night's "Kill 'em Bulls & Bears" session has really not changed the bigger picture...yet.

The ES SWING Chart is still very much in a Bear TREND (See Charts below) and now PRICE, is merely heading back up to challenge last PRIME Resistance at 962.50. And unless PRICE is able to Breach this Resistance level, then expectations would merely be that PRICE will fail, and head back down to challenge last PRIME Support created last night.

Likewise, for the ES POSITION Chart. PRICE is now heading back up to challenge last PRIME Resistance at 1008.50 - Failure to Breach this Resistance would merely bring PRICE back down, to challenge last night's lows.

Unless we see a PRIME Higher High created, nothing has changed. Period.


My ES SWING Chart above...

My ES POSITION Chart above...

ES POSITION Chart: PRICE is Challenging Last PRIME Support at 825.00

My ES POSITION Chart above...
There's no stopping this Bear. At the rate the market is going, be prepared to see 825.00 on the ES, challenged any time soon.

"PRICE will continue to move in the direction it is going...until it fails"

Words spoken by my Mentor, and which till today, continues to stick like glue, in my mind, whenever I trade.
At the moment, "A Beary Christmas" seems more appropriate, in the current mood of things.

Latest: Leg 1 of Bear Break on ES SWING Chart

My ES SWING Chart above...
PRICE just cleared last PRIME Resistance (992.50) a couple of minutes ago, effectively giving us Leg 1 of Bear Break. Are we gonna see a change in the TREND, on the SWING Chart, due to the Presidential Elections?

Consolidation

My ES TREND Chart above...
With reference to my last post, PRICE has yet to break last PRIME Resistance of 992.50, on my SWING Chart. Last night's market action merely showed PRICE in consolidation mode, and gearing up for the next move. Expectation is still for PRICE to fail, in its challenge of 992.50. Stay tuned...

Merely a Pullback?

My ES SWING Chart above...
Nothing from the above chart suggests that the market is done going down. It just points to a temporary bottom, in which PRICE is now heading back up to challenge last PRIME Resistance at 992.50. Another PPF, or failure at Resistance would merely reinforce the Bear TREND, the SWING Chart is currently in.

Woo Hoo !! More Downside to Come !!

My E-Mini Crude (QM) SWING Chart...
Notice the difference in this posting, against the earlier one, regarding the SIMSCI chart? Hehehe...
This chart would bring much joy, to the many car owners around the world (but not OPEC).

More Downside to Come

My SIMSCI SWING Chart above...
Having broken last PRIME Support as shown, I'm afraid there is some more downside to come, for the Singapore market. We are about closed to 50% off the highs in May 2008. Scary Bear!

ES TREND Chart: Breaching Last PRIME Support of 974.50 would delay up move.

Current Globex PRICE movements look a tad weak. Breaching 974.50 would simply mean a delay in the upmove. But then again, anything is possible, when it comes to the market...

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