Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
Monday, January 31, 2011
ES and Copper Update 9:05 PM
ES has so far bounced over the 62% retracement level and currently back-testing it.
They say copper is a good commodity to follow as an economic leading indicator. Above is the copper futures, which appears as though it is ready to make a new high.
The daily MACD bounced perfectly on trendline support and on the verge of a bull signal.