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ES FIBS
ES FIBS, showing all of the 100 lines left in view:
Now, you can see the 100 lines and the YELLOW AND PINK support lines, all clearly there:
2314.50 (50% line, 2228 anchor)
2290 (50% line, 2178 anchor)
2214.50 (50% line, 2028.50 anchor)
and, 2191.25.
BREAK LINES are there: 2294. 2263.75, 2170.75 & 2141.75.
IF 2141.75 BREAKS, the bottom falls out of this market and we will in a technical correction.
DJ
DJ,
ReplyDeleteI think it is likely support from the 2228 to 2401 Fib will come into play for a couple of reasons:
-The PT of the 2401 to 2332.25 Fib is 2316 with -61.8% extension at 2289.76
-There are three unfilled gaps below us at 2312.75, 2304, and 2290.5 that lead us to the 2290 HWB of that 2228 to 2401 long Fib
http://tos.mx/lBNr1N
I mistakenly referred to the 2228 to 2401 when I referenced the 2290 HWB when I really intended 2179 to 2401.
ReplyDeleteWayne, I think that the ES near this high of 2401 was sloppy at best. So, to make this simple, I will post more commentary with a note on what seem to have held first, the 2401 to 2373.75 HWB, our sloppy one. FROM THERE, we never traded an ATW-HWB from 2388.75 but instead, we have barely gotten back. We now have 2378.75 to the 2332.25.
ReplyDeleteMORE LATER as price action is gonna be choppy, I think. THANKS for your comments!