9 Feb 2016 - Rock Or Roll?

ES chart is suggesting a corrective pattern setting up these couple of trading days.  So the risk is still to the downside.  Also the SPX has now closed 2 consecutive days under our last Gann angle.  The move here could be consequential due to the fact that this angle rises everyday and is now considered a resistance level.  The level to watch is 1800, 1780, 1750.

SEN: Bearish
ST: DOWN
PA: DOWN

Note: While signals on a longer-term basis is not OS, it is however closing in on the range.  This has the potential for a run-a way move.  Can I guarantee this? No, but I am merely warning of the risk for one.  So that wave-2 (pink) will be the count that could ultimately start the cascade downward.  If we move lower from today, then the likely hood of the wave 2 (pink) is nullified or just postponed..