20060630 A pause after the big rally on Thursday. Plan to look to long retracement into fib levels. 

E-mini S&P 500 chart

20060629 ES breaks out of consolidation, could be in trending phase. Looking to buy pullbacks to the moving average. 

E-mini S&P 500 chart

20060628 ES failed to follow through to the downside. Waiting for the FOMC decision to decide next move. 

E-mini S&P 500 chart

20060627 Ahead of the 2 day FOMC meeting 28/6, ES breaks out of 1242 level, out of the double ID pattern. Expecting some follow through to the downside. 

E-mini S&P 500 chart

20060626 ES is congesting, forming tight coiled spring. Should be breakout coming. 

E-mini S&P 500 chart

20060623 ES showing 2 Inside Day patterns. Breakout of 1265 or breakdown of 1248 signals long and short respectively. 

E-mini S&P 500 chart

20060621 A 'morning star' continuation candlestick buy signal, with CCI momentum confirmation. 

E-mini S&P 500 chart

20060620 Forms a 'spinning top' inside day. May look for breakout of this range. 

E-mini S&P 500 chart

20060619 Engulfing bearish formation, with CCI ZLR sell signal. Breaking 1244 moving avg will see retest of the lows. 

E-mini S&P 500 chart

20060615 The Trin index shows the way for the rally. 

E-mini S&P 500 chart

20060615 The CCI divergence, capitulation conditions borne out in the strong rally today. Resistance at the 34 ema. 

E-mini S&P 500 chart

20060614 The expected capitulation rally eventuated off support at 1220. Needs a close above 1230 today to indicate ocntinuation. 

E-mini S&P 500 chart

20060613 Capitulation on the cards.

Don't be hoodwinked by the latest market turmoil. The fear expoused by analysts and commentators is that the Fed will raise the FFR further to contain inflation. This is not true. In 2001, when the FFR was at 1.25%, the S&P500 was at 880. Now with FFR at 5%, the S&P500 is currently at 1235. Any fool can see that as interest rates rise, the stock index rose, giving a positive correlation, so what are they fearing? Their own shadows I figure.

E-mini S&P 500 chart

20060612 Closes below the key 1247 level. ES needs to get back above 1245 to be out of immediate danger. 

E-mini S&P 500 chart

20060609 ES price action fails to confirm the hammer reversal, being unable to sustain gains. But as long as 1247 and then 1235 holds, we have a chance to bounce higher. 

E-mini S&P 500 chart

20060608 The ES morning sell off was an example of capitulation setup. 3 consecutive -1000 readings on the NYSE TICK could have given heads up on irrational selling. We long the ES June 1250 calls at 9.50 to take advantage of a potential rebound. In addition, the combined CBOE put call ratio spent the entir e day above 1.0, which is a contrarian indicator not to position trade short today

E-mini S&P 500 chart

20060608 ES shows a bullish reversal hammer pattern which is expected to see rebound continue for 2 to 3 days. 

E-mini S&P 500 chart

20060607 1274 resistance proves strong to repel early morning rally. 

E-mini S&P 500 chart

20060606 Tests support and makes new low. Looking for close above 1274 to go long for potential reversal trade. 

E-mini S&P 500 chart

20060605 A ZLR sell signal on the CCI. 

E-mini S&P 500 chart

20060602 Continuation of the rebound, off the morning star reversal candlestick formation. 

E-mini S&P 500 chart

20060601 Divergence long borne out. Needs CCI to break above zero line. 

E-mini S&P 500 chart