Week of 11-14-10

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Week of 11-14-10

Unread postby Richard Carlisle » Mon Nov 15, 2010 7:21 pm

We still like the down trend and have lowered our overnight stops in ES to 1210.
1sp_11-15.GIF
INX and ES 30 minute bars
Charts created with http://www.Aspenres.com
Richard Carlisle
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Re: Week of 11-14-10

Unread postby Richard Carlisle » Tue Nov 16, 2010 5:57 pm

Look out below! 8?>
1sp_11-16.GIF
INX and ES 30 minute bars with Ro7 projections
Charts created with http://www.Aspenres.com
Richard Carlisle
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Re: Week of 11-14-10

Unread postby Richard Carlisle » Wed Nov 17, 2010 9:52 pm

We're lowering our overnight stops to ES 1185 and expect prices to decline to INX 1160.
1sp_11-17.GIF
INX and ES 30 minute bars
Charts created with http://www.Aspenres.com
Richard Carlisle
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Richard Carlisle
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Re: Week of 11-14-10

Unread postby Richard Carlisle » Thu Nov 18, 2010 9:28 pm

Our stops in ES took us out of our over-night short positions near 20:00 hours CST last night. The size and price level from where this reversal took place suggests that the uptrend of the next larger degree may still be in progress but we did not chase it.

We are standing aside from ES awaiting further developments.
1sp11-18.GIF
INX and ES 30 minute bars
Charts created with http://www.Aspenres.com
Richard Carlisle
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Re: Week of 11-14-10

Unread postby Richard Carlisle » Fri Nov 19, 2010 8:04 pm

INX has theoretically completed a three-wave advance and has begun a new decline but the next larger degree of trend (not shown) suggests a possible triangle fourth wave in the making and therefore, INX and ES could make one final push higher.

We are going to wait until Monday before we commit to either direction.
1sp_11-19.GIF
INX and ES 30 minute bars with Ro7 levels
Charts created with http://www.Aspenres.com
Richard Carlisle
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Richard Carlisle
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