Thursday, January 26, 2012

Quick S&P500 Chart update

5 min ES
As you can see we rushed into new 2012 highs .75 from 1325 post cash open though the new highs were faded very quickly. i 5 handles before 1329.75 traded. i did not think the trade would come as ... perhaps this is the case as CL GC 6E and ES all came off their highs together. A correlated market on upside is an even more correlated market on the downside.

1320 broke.. if 1319 fails.. 1315 and we languish most of the afternoon until the close IMO.