Channels and Patterns: ES Resistance 1092-4

- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......

- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
- This blog has a copy of all header posts that I publish anywhere, so that those interested in seeing what my thoughts are on the markets can find them easily.

- I will be answering questions and responding to comments, so feel free to respond to any posts and I will see your comment even if it is not on the most recent post.

- If you're interested in seeing any intraday charts I post, I do that on twitter, and my twitter handle is @shjackcharts.

- The charts in the posts are as large as I can practically make them. if you would like to look at one more closely, click on it, and the link will take you to a larger version at screencast. If you click on that again, you will get a full page version, and can use the resizing function on your browser to enlarge parts of interest further.

Tuesday 17 August 2010

ES Resistance 1092-4

I'm expecting a positive day today, though the gains may well be given back tomorrow. Looking at ES, I'm seeing resistance for today in the 1092-4 area:

dreadwin pointed out a bearish engulfing candle on $RVX, the volatility index for the Russell 2000. This adds to my feeling that we have seen a low now that will last at least until the end of the week: