There are no bulls or bears in the market.
Only wolves and sheep.
Thursday, August 9, 2012
I had identified A and B of a potential ABC move on ES futures in an earlier post. The move panned out as expected. The C wave is continuing downwards as I write. The C wave will end when it will but I have generally seen 78.6, 100, 161.8 fib ratios between C and A. Corresponding possible targets on ES are 1393, 1391 and 1384 or anything in between :-)
I closed my shorts as I am off to bed. Let's see what tomorrow brings.