BO5 REVERSAL WITH THE RANGE RUN OFF THE 50CB 9/4/13

WHEN PA hovers at a range level, we look for a break for the continuation move, or a reversal to a prior level.  Yesterday we hit BO10 and had a bull pullback to the BO5.  Not much in after hours, except PA holding in a narrow range around the BO5.

Thought?  A PB to the range.  The 50CB at bar 3 was very critical in the long .  It went unchallenged and PA stayed positive (bull or buy side) of the 50CB trend Line.

A 50CB break of the SB into the range was another add point or first entry for bulls.  The 50CB at the upper target became the exit to watch.


From yesterday (levels unchanged)

[07:29] <CM> es today  47.75-45.25-42.75  swing short +4  long +5  1652-1638