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Monday, October 03, 2011

Will we see a "3-Black-Crows" formation tomorrow on the YM, ES, NQ & TF?

Further to my last post, I notice that the potential exists on the YM, ES, NQ & TF for a "3-Black-Crows" formation to be made by tomorrow's close as shown on the Daily chart below.

That would involve, of course, a break below the August lows on the YM, ES & NQ...(TF broke below today). We'll see if the downward momentum produces such a result on all 4 e-minis.

A close below the August lows would be very bearish, and in keeping with the "spirit" of such a formation.