$ES $FDAX Long Term Charts Feb 1st 2014

$ES_F Repeat failure to hold above key HVN 1781 at EoD. Looking for range between November vol 1752 and 1781.5. pic.twitter.com/hCZAswHjEr

ES 50-back is 1740, breakout area at 1720, HVN 1689

es_composite_long_term_plain_zoom_out

Weekly Chart – candle shows indecision but increased downside volume shows intent was real.

Commitment Of Traders shows a shift in Commercial Long vs Short positions on the ES:

cot

Needless to say 1780/1800 is very important in the coming week.

Weekly chart:

es_weekly_range_plain

DAX was a laggard in December and zoomed up in correlated trade due to ‘santa rally’. It gave back what arguably didn’t belong to it (due to low participation). Friday candle was what is known in Ice hockey as “a stick save”.

DAX_longterm

Are we experiencing a bull trap and about to enter complacency where more ‘buy the dip’ strategy gets more people people sucker long at the top ?

cycle

market_phases

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