Since then, the /ES is currently at least 40pts down.
According to price action rules, a top is confirmed to be in place with a trend change. This price action principle works with two lower highs and three lower lows following a recent high. Today, the /ES achieved the pattern completion.
I am now intrigued to look into the /ES weekly chart more closely.
Furthermore, VIX has spiked 16% today and a breakout follows a bullish divergence. Signals a major turning point.
This is way too obvious... things have already started to get ugly, if you haven't noticed yet.
The MadScientist
23 October 2012
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