Monday, September 5, 2011

ES Futures Bear Flag 09/05/11

When I first looked at the top chart, I thought "upward channel". However, this is also the making of a Bear Flag formation. The small upward move of the last 20 days, so far, is nothing more than a 50% Fib correction. If the market breaks out of the channel to the down side, we will be looking at a dismal fall session for the markets.


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