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Old 04-08-2008, 12:32 AM
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Re: YM, ES and DJIA Analysis
Daily ES looking very bearish. You can just feel a big pop coming soon. Call it what you will - coiling effect, accumulation, test of highs, etc. - but this thing is setting up for a nice move. It looks bearish and I would stay bearish if trading on the daily. Gotta get to bed or would post a chart, but just pull up a daily ES and seeing some bearish looking patterns at/near a resistance point in my eyes. This thing is going to bust soon...

I know, how arbitrary is that. Point is a couple days of doji/spinning tops tells us candle traders that there is some indecision going on of where the next move is/could be. Bulls and bears are looking for a reason to act.

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