Wednesday, February 22, 2012

2/22/12 - EOD Update

The head and shoulders top pattern I posted yesterday is still in play and the market is channeling down at the moment. I present two 5 min charts below highlighting the counts for today's move.

SPX - 5 Min - Primary Impulse down

SPX - 5 Min - Corrective Option down

SPX - 60 Min - Primary 
Price moved back below the lower half of the channel and continues to diverge with MACD.

Lets see if ES stays withing the channel overnight.
blog comments powered by Disqus