Friday, August 10, 2012

ES/ CONTEXT Update

You saw the ES chart in the last post, it wasn't impressive at all on the bullish side, now look at CONTEXT and recall we didn't have much overnight to move the market lower in the way of news, it was technical levels being broken just as 3C long term and short term charts aligned negatively.

Since 9:30 last night the ES model has deteriorated badly, ES/3C doesn't even look good and we have this much deterioration in the ES CONTEXT model, this doesn't look good for the market, but I want to see our own indicators with my own eyes.

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