ES Update

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Screen Shot 2013-04-15 at 1.22.01 PM

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Screen Shot 2013-04-15 at 1.23.56 PM

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The first downside target has now been reached from the VST paradigm break below 1581 (the last higher low in the daily bar sequence).

First order of business is to see if this bounce target at 1558.75 can stick.  If so, the descending dashed red trendline defines the VST trailing stop line where pros would stop and reverse remaining partials from the counter-trend bearish trade.

A break and acceleration below 1558.75, on the other hand, would trigger the first ST counter-trend trade signal from S&T, with the next target lower being ST primary trend support at 1533.25

Gold futures are down -118.50 (at 1364) as I type, and that is generating bearish sentiment and concurrent ominous headlines.  FYI, next support levels for YG are at 1358.70 and then 1291.40.

…my .02

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