Trade Log: Jan. 15, 2010
January 17, 2010 5:12 PM

On Friday, another ABC Bearish pattern emerged from the overnight Globex high (1147.25) to the Globex Low (1137.5). Both Globex High and Globex Low were also marked as Market Structures (MSH and MSL) patterns. At the market open, ES retraced 66% into the AB to mark ‘C’ (1144) pivot and completed an ABC Bearish Pattern. A Close below 200-SMA and EL (1142.75) produced a Sell signal into AB pattern. Targets were: 1138 at 62%, 1134 at 100% and 1128.25 at 162%.

Around lunch time, ES reached its 162% AB Target: 1127.5..
Another ABC Bullish (BLACK, small range) pattern also reached its near-term target (100% AB): 1131.75

TradeLog_Jan1510

ABCBear_Blog_Jan1510

ABC Bullish
Globex Pivots
Market Structures

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