Market Update 2009.04.22

22. April 2009
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As I am becoming reacquainted with forks, I am seeing some interesting setups.  Below is a weekly chart of the ES (starting at the Oct 2007 high to present) showing we are at a median line cross of two forks.  On the downward fork, I added the 2x and 2.5x extensions of the fork (labeled on chart), which lines up well with recent lows we've seen.  The stochastic and oscillator are also looking like a bearish setup.

 

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