Welcome to neoToolbox.com! Your home for professional tools and scripts for use with eSignal. If you need any custom eSignal scripts (EFS) built, feel free to contact us.

Disclaimer: By downloading and using any of our studies or visiting our blog, you agree to the following disclaimer:  
 
Past performance is not necessarily indicative of future results. The risk of loss in trading commodities can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. All blog posts are merely a collection of thoughts and opinions and are not buy and sell recommendations. neoTOOLBOX.com does not guarantee results, information, or EFS studies and scripts in any shape or form.

Market Update, 2009.08.16 (ES Daily)

16. August 2009
Comments (0)

ES Daily - Not counting fibonacci retracements, extensions, and projections mentioned in past posts, we have a "Adam & Eve Double Top" on the ES daily.  The red arrow indicates a past HIGH that is causing resistance ("Adam").  The blue arrow indicates a past CLOSE that is causing resistance.  Closes are important since some traders only focus on the daily close when making their longer-term trades.  These levels seem to be causing a rounded top in our current price action (black arrow, "Eve").  Could this be another sign of a change in trend?  Or, is this a bull flag before a pop higher?

 
 
 
 
 

Market Update