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Monday, April 5, 2010

Blitz on Monday

by the bulls. We see the move up out of the triangle. And like I was saying yesterday, the target is 1186 on the ES. It is a target based on the triangle width, and yes it could go higher than the target. But we would expect at least 1186.

.... However, the McClellan Oscillator is still staying we are near the top of this move. So I think this has a high likelihood of being a pop up, hit the target, and then reverse hard type of move.

In short, this blitz by the bulls leaves the backfield wide open, and the bears send everybody out to receive. At the end of this shitty rally, this play looks to be very low percentage for the bulls.

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