ES 12-17-08 charts

IF 889 DOESNT HOLD ,NEXT STOP 879

oh yeah...now you are speaking my language..thanks so much..I know it's more of a hassle

sma's are: 21, 55, 89, 144, 233. for anyone that has done any moving average work, it should come as no surprise that price was rejected on the first hit of the 55. I would not be surprised to see price work its way back to the 21 before heading back higher (if it even heads higher).

The projections are from the ABC. Though not exactly the same as kool's targets - they are very close. In all honesty, I'm just not "feeling" this pattern very well. There is next to nothing in symmetry. It has already taken 12 trading days to get to where were at, while the ABC completed in 7. This by no means invalidates the pattern. Not all patterns are nice and clean, nor do they have to be to play out.

One thing to keep in mind. We could very well be setting up for a pattern to the downside. We are currently at the 61.8% retracement from the 11/5 H and 11/21 L with the 78.6% at 950.25 and the 88.6% at 977.25 (those retracements not shown on chart). We may very well have a pattern to project to the downside soon. Which might fit in nicely with kool's Jan. scenario.

Comments and questions welcomed.

Here is a look at what projections I would be using if we did not take out the 12/8 H at 918.75. I am not "forecasting" that this is how things will play out. My name is not nostraVO. These are simply projections from the pattern.

Comments and questions welcomed.