S&P future (ES) charts (周+4hr） (07/05/13)

Weekly：

It was a short but important trading week for the bull.  Bull not only managed to hold the key 1596 support for several occasions but also closed the week strong by penetrating the 1620 resistance (4 hr).  Last week the FVO flashed an early turn signal which now has been confirmed.  It will take some major effort for the bear to turn this signal below the 0 signal line. Anyway, the 5-week long bearish channel, which is no longer very useful at this moment, has been removed and I have drawn a new trendline that bull has to overcome.  The next resistance beyond this trend line will be @1650-1660 area.      The pink MA line continues to flatten indicating market currently is in a trading range (between 1685-1553).  For the bear it must push below the 1596 support line to stay in the game.  Or it will have to wait a little bit and gather some strength to fight bull again @ 1660 or 1685 levels.



4-hour:
As I have mentioned before consolidation at high and above support is a bullish scenario.  ES future consolidated above the 1596 support and finally broke the purple defense line (1620) today with a synchronized assault using short, intermediate and long range weapons (4 white bars indicating that short, intermediate and long term momentum are turning up strong  simultaneously).  Therefore this breakout is very likely a valid move.  Even though bear managed to push the price down breifly to the orange MA line, bull easily defeated it as illustrated by the long tailed candle and subsequently lifted price to a higher level.   Now bear must penetrate the 1608 support first in order to challenge the very important 1596 support again.  

Have a good weekend! 

所有跟帖： 

• DDD! TA_JUNKIE 的美图帅呆了！谢谢分享！ -我想飞- ♀ (0 bytes) () 07/05/2013 postreply 20:14:03

• 赞美图。谢谢！ -行动矮人- ♀ (0 bytes) () 07/06/2013 postreply 04:58:11