Elliott Wave Live: The Moment of Truth for $ES-F

Tuesday, July 19, 2011

The Moment of Truth for $ES-F

In light of today's move to the upside and the fact that the DOW and NASDAQ haven't confirmed the S&P wave overlap (see last nights post ), I thought I would at least show the running triangle interpretation for readers. However, it's showtime and the moment of truth has arrived as the Bulls MUST push the Market beyond 1354.5 (1352.75 the ES1 equivalent) to confirm that a triangle had completed AND make a new recovery high. Failure to print above 1354.5 (1352.75 equiv.) would forewarn, as a series of lower highswill be made possibly aligning the market as I described in my 2011 - 2007 analogy.

Let's see what happens.

Best of Trading

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Tuesday, July 19, 2011

The Moment of Truth for $ES-F

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