Tuesday, August 2, 2011

ES at bottom of channel, if this ain't a bounce the deep kim chee is here

For nuclear buffs, this is a good writeup, like there actually might still be some journalism going on in the US.


This is the S&P 500 futures, just now tapped the bottom of the channel, the 177% level.

If it doesn't bounce here, it won't

Notice also the longer term Head and Shoulders pattern that had just been broken (or confirmed), just like 2009 and 2010.   But maybe this time instead of a bear crushing fake-out, maybe this is the real thing and it will continue down.


  1. Hmm...2009....2010...third time's the charm for P3?

    Certified "Trading in the Zone" reader and audio listener who took Mark Douglas' two day seminar years ago. If you refuse to read his work you aren't that serious about making money.

    P.S. You can only appreciate that comment when you read it and see what you don't know and what you now do incorrectly. The more successful you are at any other endeavor, the more likely you are to fail at trading that has rules like no other occupation. HINT: You don't know most of the rules he found from years of dealing with mega successful traders and codifying what they all have in common.

  2. Indeed at many times I thought Douglas was talking directly to me


Insightful and Useful Comment!