Monday, May 23, 2011

5/23/11 - EOD Update [10:00 PM Update]

[10:00 PM Update]

Remember when I made the comparison with the two similar wedges? We now may be seeing a third for ES.

[5:38 PM Update]

1 Min

Here's a 1 min chart I posted in the chat room near the close. I see a potential for at least another zigzag up to complete a double zigzag off the day's low since the move down from the intraday high appears to be corrective.

The bullish alternate is a nested 1-2 setup.


As of this update, ES is bouncing slightly green off that lower trendline within that falling wedge.

EOD Update

Will be back with comments on these counts.

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