Friday, January 18, 2013

Plan For Next Week

I usually study weekly charts on weekend. But hockey (NHL shortened season) starts this weekend, so screw the weekly charts. Just kidding... Let's zoom in instead and look at 4hr chart of ES. I continue to think that market is overextended and is due for a pullback. I know, I have said this three trading sessions in a row, nonetheless that is my outlook and I am sticking with it. I like the open gap area as a target.

click on chart to enlarge

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