ES seems to be rising relentlessly to 1000, but we have to see how it will behave now that it has reached the Fib/MM resistance area (i.e. 979-984). Again we have preliminary signs of a peak (Entropy and MTFS) so money management can be adjusted accordingly.
Note that there is obviously no indication of reversal whatsoever, so the peak will first be a market stall at best.
TF is following the exact same path.
( posted 8 AM UK)
Tuesday, July 28, 2009
Market Update - Jul 28th '09
