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ES: RED FLAG

9/26/11

10:26EST

ESZ11:

We failed to reach the up extensions, thereby immediately raising the RED FLAG.

No major change from the last update

Down to 1122.25 as such 1137.00 is Pivotal Resistance for 1122.25

Clearly trading below the key level (1120.50)

Takes us down to 1099.50/75 (quickly)

Expect a GODZILLA bounce at the 1099.25/75 price level

IMO down to 1099.50/75; because we went through ALL key pivotal supports levels