Today is SERIES S2L and the SPILL is UP… Today the commentary will be mainly a re-hash. This is not for the lazy… It is being done because it this situation is seen quite often. It is a repeating setup and emphasizes juncture where BOTH CAMPS WANT THE SAME OUT COME. I am reposting prior COMMENTARY and including 3 charts. One of those charts is a ES DAY ONLY RTH chart/I have often yammered about the nightly TOP DOWN analysis done. These charts reflect that work and the 3 min charts prior to outcome and post outcome are cash. They are a simple drilling down of what is reflected on the 27 min. chart.
The one aspect on the 27 min es and 3 mi cash chart post outcome chart that ties together several days of commentaries, how to think FORWARD needs to turn on some light bulbs for both minnow/sardine and tuna. It also ties in the clock and where aberration raises alarm of either potential WEAKNESS in the future( this case) or STRENGTH (if the aberration were to portend UP-not in this case). THAT ASPECT IS THE blue ASTERISK BY the second red 2.
It is precisely exactly where the WEAK LAST HOUR HIGH on S3H occurred. It was that moment that segued into the BEARS HAVE A SHOT for TUESDAY. The PRICE ANALYSIS, ie the 2181 needs, the weekly pivot, the 2168 cash, the 2163.5 spot, a the prior highs in the 2167-69 CERTAINLY were SPOT ON but I am mainly talking about FORM , thinking forward, and where blending those prices for RISK MARKERS and LARGER THAN itty bitty ROC (rate of change) is enhanced. This is especially important in diminished TOE when everyone is lulled to sleep looking at other things, moaning about current market, and generally distracted.
The charts speak for themselves AND are in the COMMENTARIES. HERE:
Monday the 15th: “HONING: THE BULLS NEED TO KILL AND convert the 2184 cash.The BEARS NEED to kill the 2168 CASH in order to accomplish anything”… Comment this is where the weal last hour high occurred
Tuesday the 16th :” HONING-My opinion is that the last hour was very weak as the FIB rejected price on cash within MOE.Today :
tHE bears GET A SHOT AND ARE IN MUST PERFORM — that performance JOB 1 is to go after the 2177.5 SPOT aka WEEKLY PIVOT.Remember they DO NOT ACCOMPLISH ANYTHING OF REAL VALUE until they take out 2168 CASH. .”… comment , notice 2168 cash again , notice the opinion, notice the idea of weakness, go back and see how 81spot aka 2184 cash factored into the day..
