7-11-11 SELLING GOING INTO EARNINGS SEASON

Markets were selling prior to the US open. Euro zone news over shadowed earnings.  So much for earnings season starting on a positive outlook.  The BOT ranges favored weakness for the open.

Abbreviated reviews this week.  Next week we will be back into the chat and webinar mode.



TODAY:  TF AND ES


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TF actually broke above the long BOT before selling pushed price back inside the LB for a short reversal.  Selling and shorts were the call for the day.

ES failed to break the LB.  the SB failure was the short opportunity.  As with the TF, a short selling TL ran into the afternoon.