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MortiES' Update B4 Opening 17Jul2009

Written by Mortie
July 17th, 2009at 8:20 am

A quick update on Globex before the opening bell. ES seems to have declared itself during the Globex session. With ES falling out of the recession channel of the lows, this appears to be the W4 we have been anticipating and the high yesterday should hold as this move’s W3. The target for W4 is indicated on the chart. It is my target vs. GET’s target levels, but is in the same vicinity. The Elliott Oscillator need to return to the “0″ line before W4 will be over. It can be 10% short and 40% over based on the W3 level of the oscillator.

ES PreMkt Open 17Jul2009

Categories: Markets

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  1. Placebo Placebo says:
    July 17, 2009 at 11:55 am

    11:33 AM and looking good so far. Looks like a good down trend is setting up at least for now. Not quite confirmed yet however. I hopped on board for the ride down don’t know if I will hold all the way to ES920.50. You have really been on fire with your calls.

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