BULL BIAS BREAL OUT DAY 8/20/13

EARLY AM PA was settling at support and would rise to our test area target where the distribution side entered.  The sell off broke B261 and B252  50CB's to settle slightly higher than our support line.

  [06:24] <CM> es  continues to distribute in selling pb's  today:  bull mkt flip 49-50.5  bear resist challenge 46-48  support at 41.50.  likely scenario a bo around 45 to test 47.25-48.  again today watching for fbo's and 50cb violations  range today +10 bull  +7 for bear  1653-1636 

 

This higher support was another point of interest for our bull bias. Either PA test the highs again or we get the support BO.  Either way, PA was likely to run +10 for the bull and +7 for the support BO.

In the BO run, the 50CB's are tested but do not break; another support for a continuation of the buying.