- Been looking at this a lot lately. Given today is Friday = close of week, here's another take.
- On the weekly line chart (free of intra-week noise), there is important chart support at 1056 this week. Failure to close above = Important sell signal. We are a mere 1.8% away now.
- Notice how moving averages are pointing down and diverging already.
- Next week (03Sep10), the UpTL support point moves up to 1065.
2 comments:
Stopped in short ESU0 @ 1067 (= appx 1069 in cash). Recall below 1070 cash = new recent low on daily chart + crystallization of series of lower highs and lower lows.
Added short 1054
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