ANOTHER SELL OFF DAY 4/7/14

The ES today had a major 50CB development early in the market.  Price broke for the bear and remained trapped below the 20EMA

New 50CB's developed and a bear channel indicating a weakening of the sell off.  This channel push slightly lower than the range finally finding the buyers to push the market higher.

FOLLOW THE CHAT:

[10:47] <CM> ES 57.5-10=47.5  10 point range in 
[10:48] <CM> 48 is bo point for sellers..
[10:49] <CM> or those that shorted b13 low..
[10:53] <CM> ES target 45

[11:10] <CM> sell bias ema hold 5m  gap on 15m

[11:21] <CM> ES consolidating=move coming
[11:53] <CM> ES target hit covered all shorts +** total

[12:57] <CM> buyers ES 42.5 targets 43.5 44.75 45
[13:13] <CM> ym tf nq es buyers

[13:17] <CM> bar 44 on 5m chart a 50cb to test on all majors
[13:22] <CM> stc ym nq tf 50cb test completed

[13:35] <CM> ym es tq nq at low of 30 minute range

[14:53] <CM> stc all  (trades shot deleted)

[14:57] <CM> done have a great day..