Thursday, April 8, 2010

ES Analysis

These outliers are often important resistance, also note that on the volume profile this is in a severe "thin zone", there was not much transactions taking place at that price level, meaning not too much emotional baggage being carried from the past.   Some analysts think these thin zones can be moved through quickly, potential blowoff top area.

There are 4 backtests on the PRS 133 channel line.  Some analysts state that "no channel has been broken", I beg to differ.   However none of these backtests actually touched the PRS 133.  For more info on the PRS 133 simply search my blog using the search box.

And the put call ratio shows investors complacent, bulls are convinced there is just one way up.

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Insightful and Useful Comment!