Tuesday, July 12, 2011

7/12/11 - Pre Market [5:47 AM Update]

[5:47 AM Update]

Wow. What a difference a few hours makes.

Pre Market

ES didn't quite get the triple MACD +ve divergence I was looking for but there is divergence nonetheless. So far ES has recovered over 10 pts from the overnight trading.

Yesterday I forgot to post the 15 min cash chart below highlighting the head and shoulders pattern with a target of approximately 1311. This matches up with a tag of the 34 day EMA and a much closer tag of the descending TL connected by the 5/2 and 6/1 highs.

We'll see what happens at the open.

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