10:38 am EDT: The ES is much weaker than anticipated, having traded nearly back down to monthly S1 at 1084.75. 1093 to 1095 is now a sell area. If the daily S1′s cannot support at 1083.25, we don’t have confidence that yesterday’s low of 1078.50 will hold. The Bernanke vote could cause some late day volatility. Until then, things should quiet down.
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Jeff
on January 28 2010 at 12:56:58
Wow, so we have a bearish outside daily candle, the USD in a 3rd wave up AND above the 200ma, and the ES below strong support.
This smells bad.
Bob English
on January 28 2010 at 13:06:56
Yes, though I should not have been surprised w/ Bernanke under fire right now.