es30minchart

On Monday, I highlighted the 4 Close Reversal shown in the ES market.  I noted that a close below this level might signal lower prices.

Market showed follow through down on Tuesday.

Wednesday showed a pullback right to the 4 CL Rev level.

Today, the market has shown another potential reversal via a Two Bar Flip Flop (another favorite pattern of trading master, John R. Hill).

This is signaled by a complete reversal of yesterday’s upmove and a move to new lows.  If short, stop-loss could be moved down to just above Wednesday’s high.  Is this a crash in the making?  I don’t think so.  The long-term trend lines are still holding.

Lundy S. Hill

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