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Re: rimshot post# 13

Tuesday, 06/12/2012 1:25:29 PM

Tuesday, June 12, 2012 1:25:29 PM

Post# of 368
ES 30min, 60min, 240min chart interpretation based on price action since the Sunday evening open and since all of last week:

my interpretation now as of 1:21 pm eastern time June 12th using the continuous contract ES chart:

* nothing more can be confidently stated other than the horizontal trading-range and consolidation pattern exists since yesterday's close and including today's overnight session and day session price history

*** until ES advances and actually holds a horizontal breakout above the ES $1315 to $1316 levels, the range-bound nature of the price action is simply that, and no other directional clues exist which I personally consider valid or reliable

yes, guesses are possible, but nothing in the chart is next considered a "chart event" with potential staying power until:

1. a continued and sustained advance back above ES $1316

or

2. below approx. ES $1292.25 to $1298's price zone

imo

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