Tuesday, November 16, 2010

ES Futures Charts For 11/15/10

We now have two closes below the 10-day moving average. Monday followed the usual pattern of being a below average range day following an above average range day.

R1 held as resistance along with the 10-day moving average. The $TICK indicator showed slowing bullish momentum as the market tested R1. It finally tumbled going into the last half hour of energy market trading at 1400 ET.

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