“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Tuesday 18 March 2014

18 Mar 2014

As we mentioned yesterday the intra-day signal if the longer it stays in the OB range would push the ST into an UPTREND.  The ES futures can be counted as 3 waves from the lows made last Friday.  The pattern might not be complete but if it is then a 3 wave pattern can only be classified as a corrective rally.

MT: DOWN
ST: UP
PA: UP

The lower up-trending line could keep price from rising, and Stoch is at overbought.  Therefore look for an exit in the OB range for price to sustain a downward bias.

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