Monday's high is the number to watch on the ES futures on the upside 918.25 a solid break of that level should march up to 927. Remember folks we have end of quarter windows dressing and I believe that's why the market are staying up at these levels. I do have a cycle peak before July 11 area so we should make a peak before then before we get a meaningful pullback.
Presently we are mostly correcting in time more than price and that is very troublesome for the bulls especially with the declining volume. I do expect higher prices in the next few weeks to complete the pattern on the charts and the bear to return
MARKETJEDI
Thursday, June 25, 2009
Bear Flag
We definitely forming a bear flag to start the morning trade so expect us to move down first before we find a footing. Remember to watch that 888.75 number again then 875 on the ES futures.
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