It appears to me that the 1st resistance on /ES should come in at around 950ish which would be the expected target now that price has falling out of the terminal rising wedge as per traditional TA text books which state price should come back to where the wedge first began. Also at that level the .382 fib zone comes in which stacks nicely with the previous resistance(top of failed head and shoulders).
Thursday, August 6, 2009
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