Oscar is bearish today. Accuracy = 6/11.
S&P 500 & EMINI (ESU2012) September 2012
Posted: 07/22/12 17:35 OST/EST
For Trade Date: 07/23/12
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After a great deal of analysis on Bonds, Dollars, and Indices markets over this weekend, OMNI has signaled that technically the S&P (ESU12) needs at least one more down day before possibly shoring up again. OMNI wants to sell a rally as (if) the ES makes its way into the 13XX.00s. OMNI has more specific details on exactly where to enter along with suggested buy stop levels and profit objectives which will be furnished via the Flash Update System as the market approaches the OMNI “reaction” levels
Could be falling back into triangle. Or could be a retracement before breakout out of triangle again. Neutral.
Could go both way too. Just tighter entry pts from this chart compared with Daily.
Price is on the edge of breakout lower part of the box, and short @ 2590 could be a good entry short pt. But the range is big (60pts), and rebound could be possible. This is the risk we hv to take if were to queue earlier before market open for such a short.
The price could reach 2590, then up again to 2610, before going back down to 2590, thus killing the trade in the process. 20pts SL is no guarantee that can hold the direction in this trade.
Another way to look at it is, totally bearish trading tonite, and wait for good rebound to short @ Fib pts.
This view will be more consistent with Oscar’s bearish outlook, and easier for doing shorts.