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.

2011.08.05 ES Weekly. Hold Your Horses!

5. August 2011
Comments (0)

ES Weekly:  Nice place to get some good unemployment numbers.  Will it hold?  Before we get too doom and gloom, the pullback we saw April to July of 2010 was larger than what we've seen so far... and we saw almost a 400 point rally afterwards.  

When it comes to the "larger trend" don't get too wrapped up with news and what is happening day to day.  When the "flash crash" happened in May it really shook up the system.  However, we only saw 50 points more of downside before the 400 point rally.  (We didn't have a monster crash that sent the markets to 2009 lows)

So far, the pullback we've seen since May looks like a nice A,B,C pattern (three wave pullback).  

 

Market Update