Wednesday, October 28, 2009

Gap play

Ok, I hope you enjoyed shorting the Big names today. They performed as expected and might have initiated an important move as of today.
ES, gave us 10 more points after last post in wich we spotted a partial covering zone. 
I still believe the bearish move is alive and kicking but it needs a retracement. Things get complicated since there still is a 1037.25 unfilled gap that claims for a fill during regular hours, otherwise the path should be stright up (bounce).
Expected alternatives are described in the chart but even if a VST bullish move to (say 1067-1074) area comes, it will be only a pullback inside a bearish move.