Short Term Trading Member Forum

[techcharter]

Markets End Lower Tomorrow

The e-mini SPX chart prominently shows the ending diagonal which started around Jan 20. Monday night into Tuesday wave ED-d was a triangle. That means only one more small wave is left in the pattern. At this point the last wave (ED-e) is about to touch the upper edge of the triangle. Sometimes the edge is momentarily broken before the reversal takes place.

The market is signalling the first Obama bailout does not pass tomorrow.

http://charts.barchart.com/chart.asp?sym=esh9&data=Z60&date=051406&den=HIGH&divd=Y&evnt=ADV&grid=Y&jav=ADV&size=D&sky=Y&sly=N&vol=Y&late=Y&ch1=011&arga=&argb=&argc=&ov1=&argd=&arge=&argf=&ch2=&argg=&argh=&argi=&ov2=&argj=&argk=&argl=&code=BSTKIC&org=stk