20061128 Range seems to be 1375 to 1398 for now. 

E-mini S&P 500 chart

20061127 ES breaks and has it's biggest decline in 4 months. This is precipitated by the USD fall during the past 3 trading sessions. CCI moves below zero, so this correction has downside momentum building. 

E-mini S&P 500 chart

20061124 Will the ES hold support? 

E-mini S&P 500 chart

20061121 ES flattening out ahead of Thanksgiving shortened week of trade. 

E-mini S&P 500 chart

20061120 ES settles into trading range. 

E-mini S&P 500 chart

20061117 Buyers stepped into lower levels to push the ES back up, to form a 'shooting star' candlestick pattern. A break below the low of today's pattern indicates a short trade for reversal. It is interesting how many commentators, news, TV stations etc are conjecturing on the stock market's rise, citing reasons such as soft landing, interest rate cut speculation. But all these are hype and noise. The reason for the stocks' rise are due to money flowing from the speculative funds that exited the commodities markets into the stock markets. 

E-mini S&P 500 chart

20061116 ES rosses and closes above 1400, a technically significant moment. So much for the "decline of epic proportions" touted by one floor trader on the CME after the Democratic sweep of both houses. 

E-mini S&P 500 chart

20061115 ES breaks out of the bull flag pattern.

E-mini S&P 500 chart

20061110 ES, indecisive price action after the sell down. 

E-mini S&P 500 chart

20061109 DJIA starts correction, falling 73. ES has chance to get to 1270, so looking for short opportunities. 

E-mini S&P 500 chart

20061108 ES recovers from effects of Democrats win in US elections. Funny, one trader interviewed on Bloomberg TV was calling for a 'selloff of epic proportions'. Well he must have been heavily short, but he is obviously succumbing to emotions and anger or excitement at the 'paper profits' that he would have made on a 'epic selloff'. A look at the bigger picture, would reveal that the $ from Wall St were already flowing into Democrats' coffers a few months prior to today's elections, indicating the financial community support for the democrats, thereby precluding a 'epic selloff' on Republican loss. 

E-mini S&P 500 chart

20061107 ES rallies again, on day of mid term US congressional elections. Could form a double top, but will take a while yet. 

E-mini S&P 500 chart

20061101 Break in the ES through 1377 support, which now provides resistance in this downward phase. 

E-mini S&P 500 chart