Friday, December 2, 2011

Post Close Charts & Musings

1 min ES 
What a difference a week makes.... today we quick the move up into 1260 & sold off all day as the market dollar melted lower and euro move slightly higher... Notice the second half of day every 6 minute approx. change of direction in the ES on a 1 min chart.. the price kept getting walked up to the downtrend line then a quick fall back to a lower low.... then the termination of this pattern was a break below 1246 on a trade to below 1243. settle 1244..

With iran moving oil up into the close of PIT and close of globex we could see crude disconnected from equities as 105 and beyond is on deck.