Tuesday, February 16, 2010

ES Futures Morning Review 02/16/10













1079.50 held as support. After the double bottom formation, we couldn't quite get a 50% correction, but did achieve a bullish 3-wave symmetrical pattern. After that, the third wave of the next correction was shallow and had a bullish $TICK divergence signal going into the European close. The market is now making new highs for the day.

Charles

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