Monday, September 16, 2013

ES Futures and the SPX ETF SPY

For those of you who have followed me for a few years, you are quite aware of the "Blimp" swat down.    ES made a piercing move into the blimp and promptly started falling.

Fed week this week, so everyone is anxious.

Also see the Bermoulli channel, especially on SPY.    This is a steep channel and we have been on the top range of it now.    What are the chances that we accelerate up and out of this channel and form an even steeper channel?     About a snowballs chance in hell.    

More likely, say 20% we get an overthrow of the channel as a final shakeoff prior to a real correction.
Sometimes these things take longer than you think.

Drop a comment, send in your own indicators, I will post.

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Insightful and Useful Comment!