Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

End of Day Analysis for May 11, 2010 - Going Down?!

|Includes: SPDR S&P 500 Trust ETF (SPY), SPY
 

From the opening bell this morning, ES was a well behaved market, doing very much what was expected. It did make it to the 15 EMA and reverse dramatically. That reversal, IMO, signaled that the Bears are back in town. The chart is pretty self-explanatory. Read the comment on the arrows. I’m pretty tired tonight and will chime in tomorrow when I see ES unfold a little more.

The best way to see what we do on a daily basis and on an intraday basis is to try our Premium Content. If this site doesn't add back more than the price of admission, then you have no obligation to subscribe after one month, and you will have still learned some Elliott.

If you like what you see here, wait to see how MortiES's analysis can assist you in your everyday investing or trading strategy! Go ahead., Click on "Subscribe to MortiES Premium" and give it a try! I am offering a 30 day free trial period.

Disclosure: None