Monthly ES #F chart 07.12
The monthly chart shows possible 5 waves up into .707 fib resistance and UBB. We have a bearish engulfing reversal candle pattern in place. There is a complex ghost getting ready to trigger with HTLB. IF the top is in, and we retrace the move up from the October 2002 low, THEN, i am looking for the following downside targets: 983, 982.50, 888.00 and even test of 767.25 low. The move down could be swift, if this is a C wave. Only time will tell.
posted by TraderZ @ 7/13/2006 04:04:00 PM
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