Long Vulcan Materials (VMC)
Slope of Hope Blog Posts
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The Latest from Sochi
Retracement Targets
I gave the remaining significant resistance level on ES/SPX in the 1824-8 ES range yesterday and the reversal at 1823.5 was at the bottom of that range. ES has now broken down from both the rising wedge and the 50 hour MA and I’m expecting more downside, though I would add the caveat that at this stage in a rising wedge breakdown there is often a retest of broken wedge support or a test of the highs to establish the second high of a double-top. We could still see that happen here. ES 60min chart: (more…)
