So much for all that Bull 
Just goes to show that the market will do what it likes, not what you think. So now we are in sideways mode, 7900 to 8150. My saving grace was calling the bottom today, or rather the turnaround at 7970. Pity it was only worth 50 odd points, but there was a great ND top exit.... As it turns out, it wasn't a top signifying a trend change, so there may be a return to the upside tomorrow....Could that be a cup and handle? Not very common at all. If it is, 8100 is the target.
Just goes to show that the market will do what it likes, not what you think. So now we are in sideways mode, 7900 to 8150. My saving grace was calling the bottom today, or rather the turnaround at 7970. Pity it was only worth 50 odd points, but there was a great ND top exit.... As it turns out, it wasn't a top signifying a trend change, so there may be a return to the upside tomorrow....Could that be a cup and handle? Not very common at all. If it is, 8100 is the target.Attachments
A nice bulltriangle to start the day off, edging it's way up to may target of 8100 from yesterday. The Bull Triangle broke to the upside, but very soon got into weakness, failing to make it's target of 8180 by some 30 points. Still, Negative divergence was setting in, giving warning to the top, and clearly seen on ES Volume divergence. A quick drop to support at 8100, an attempt to rally soon failed,making a weak attemt to test the 100MA before dropping like a stone to 7970. Again we saw divergence getting us of the bottom and volume divergence on ES Futs. Closing action produced a Bear Flag, target 7826..... I'm not a great believer of closing TA targets performing.....
