ES bounced at monthly pivot support yesterday and a likely bear flag is forming that on a break down should at minimum deliver a retest of yesterday’s low, and likely continuation lower after that. There is a small section looking at Facebook at the end of the video today. Intraday Video from theartofchart.net – Update on ES, NQ and TF:
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
The big Fed announcement/press conference/dot plot update isn’t until tomorrow, but let’s take a quick look at how bonds are doing in advance of the big day.
I confess I was getting jumpy about the strength bonds had been showing, including a pretty decent-looking basing pattern. Mercifully, a long-term trendline saved the day. Look how clean the repulsion is away from that trendline: