Update Closing Bell:
Looks like some pretty good calls today , too bad there are barely any readers on this blog just yet, but with good content (and a little search engine optimization) they will come. I will continue putting this blog together over the weekend, should have plenty of good stuff along with daily and weekly updates for you sometime during this weekend
Update 2:57pm
considering last hour is here and the new low, new line in the sand is 820, watch that for a bounce, and of course be extra careful considering last hour magic
Update 2:23pm
Bounce hapenned, intermediate term turning point 815.5-817 area, if broken we head back to 821, if that also gives could see retest of the highs with major support expected at 833.5. Ambush long at 807.75 is still valid also. 807.75 – 833.5 is the current range until violated
Update 1:47pm
Looks like market chose the 808-810 direction, watch for bounce here, if we break through this level only magic WTF / PPT can save this market
Update 12:10pm
ES still hanging out in this 821 area, now 100k and 15 min trends are green, this consolidation is certainly going to cause fireworks in either OR BOTH 🙂 directions
Update 11:55am
821 is Short Ambush from yesterdays 4:04pm highs, if the ambush breaks, would fully expect ES to go into 833 eitehr later today or monday, if it fails ES would probably head to 808 which is 50% retracement from Wednesday’s low