sketching in the action..

RSI on the daily ES plunged pretty deep on the first leg down and now I can visualize the ES drifting up into the 1075ish area the next few days before rolling over and making a stab down at the 200 day moving average. If so, it looks to me like daily RSI may flash a bullish divergence at that point, and so I'll be looking for one of those days where we trade down and trace out a bowl type affair, closing up near the highs at the end of the day. The weekly RSI signal at that point has reached it's minimum objective and with a bullish daily divergence I may have to flip long but we'll see how things look while thrashing around down there at the 200 day moving average...