Friday, March 02, 2007

ES #F Analysis for 03.02.2007

Monthly chart shows preliminary wave count. In any event, we have 5 waves up off a much larger range, so expect a much larger pullback/retracement.

Weekly chart shows confirmed sell, with the past week's price action wiping out all the gains of the last 12 weeks.

The daily chart shows price to be trading below the 89sma. The 200sma currently sits at the 1353 area.

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