AN EYE ON THE SURPRISE MOVE

you have seen those days.  The market has been selling off since 22:00 the evening before.  When the Euro Zone opens, we have a  5 point range setting a lower high from the overnight, and still lower than the prior trading day close.  By 6:30 AM EST price has flipped, and now is pushing lower and below the EMA.  Greece is still an issue, and pundits are talking bearish.  The expectation is a continued selling for the US market.



TODAY:  ES HAS A SURPRISE

[07:09] <Chartmaster> daily targets updated mkt bias short, but watch for surprise move. mkt technicals near prior lows where rallies began. http://evestnews.blogspot.com

The bias may be for more selling, but some technicals were pointing toward a possible "surprise" move to the long side.  The BOTs work well when the market decides to change direction. 

1.  We see a mid BOT test , then an EMA flip by 8:30 AM EST.
2. the first FBO of the long BOT with a reversal to the EMA support.
3. B1  mkt open  with a long position, or at least at the 50% level.  B2 is the 1st rev
4. Market first PB to EMA, with another 50% long pay. b12
5. Second PB b16-18  with an EMA long at BO of bear channel
6. Consolidation at what could be high of day
7. Flip at b43 with a BO short at the lower TL b51
8. B59 bear control bar BO at the 50% level on b61.  This creates a short term line for long/short for a head & shoulder pattern.  We see a MAXT above the EMA that creates a LH