DOW - ES Charts 18/02 - 21/02

ChartMan

Legendary member
5,580 46
Steady start to the week after the holiday .MAintaining the attack on the sideways channel and breaking 8K and holding it as support at the close.Follows on well from Friday's comments about no sellers being there at the close and the bulls being confident enough to hold over the break.
 

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ChartMan

Legendary member
5,580 46
Difficult session to trade for most of the day, but it finally gave up a relatively easy 10 points in the closing session, showing both volume and RSI /CCI divergence on the 845 bottom a good signal for a reversal at 845.
 

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ChartMan

Legendary member
5,580 46
Holdink 8K just and developing a bull flag, maybe.... If so , the target is 8377.Still in channel and bouncing off the 100MA at the session close.
 

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ChartMan

Legendary member
5,580 46
Aha. Not going to plan. Now we're stuck back in the sideways channel and no chance of my weekly target of 8150 or so.Maybe next week we'll all be millyonaires........
 

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ChartMan

Legendary member
5,580 46
Bit of a roller coaster week. If it hadn't been for the barrels of oil going up in New York, we may have ended up another 100 points . Another example of panic reaction to a piece of news ending up in great volatility and some excellent gains for those nible on the buttons .:) A bounce off 7900 saw us getting firmly back in the channel and a nice run of 150 points. The big inverse H&S would take us to 8100 next week... if it delivers.
 

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ChartMan

Legendary member
5,580 46
Big volumes have squashed the charts! Nice and volatile though for some big points and easy pickings on the bottom and top with the huge volume peaks- "blow off bottoms and tops". I bet the bias was a bit mad during these :)
 

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