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ES Jams the Shorts in Reaction to More QE from Mario

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    ES (Emini S&P 500) did an excellent job of trapping the shorts yesterday, in the aftermath of the brief breakdown from a Megaphone Formation. Of course, Easy Money once again trumps technical analysis, especially when the bullish pattern breaks down, and "requires" either lightening long positions, or hedging with new short ES positions... creating a near-term bearish posture that becomes ripe for "QE abuse." Now that ES has spiked to a new recovery high, no doubt fueled in large part by

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