/ES 4 hr chart 

Today's action continued to break down out of the wedge, backtested the wedge, and then continued to fall away. Combined with multiple negative MACD diverges, offers a nice bearish setup. 1740-1760 is a possibility this week.


If we can extrapolate that to the same % on the RUT I will be a very happy camper. 12/2/13
flyboy***I Am a 1.5%'r!***flyboy***I Am a 1.5%'r!***
The Rev got snarky today:)! Yeah, bout time you put those bull bozo's in their place:) 
Kudos to you! 12/2/13
Tim KnightTim Knight
I'll just offer up my usual "please use a better color scheme" plea. 12/2/13
Sorry TK, one day I'll mess with that futures chart setup on TOS to make it look better. My charts on Prophet have looked much better since I took your advice and went to the white background. 12/2/13
RUT actually did show greater weakness today. 12/2/13
Look at the slope of the rising trendline, it is way too sharp. Sharply rising trendlines are not reliable. The wedge broke down way too close to the APEX, making the wedge pattern unreliable. Wedges often turn into channels where price catches the bottom channel. 12/3/13