Ricky Wen

Articles by Ricky Wen

The second week of July continued to follow our expectations.  Early in the week we got the expected backtest pullback into the 2950-2960 trending support zone, and then price formed a 2963.50 low to confirm the low of the week was in...
The last week of June completed as an inside week that traded very close to within our expected 2969-2915 high-level consolidation range on the Emini S&P 500 (ES). The actual range for the week was 2961.75-2914.5.

Essentially, the...
The second week of June played out as a high-level consolidation with the Emini S&P500 (ES) moving in a tight horizontal flag ranging between 2911.50 and 2867.25. This meant that the bulls were very strong as price was unable to...
Monday’s session was a deadly and massive bull trap due to the morning false breakout above the key 2693/2700 levels with the high at 2707 that lasted for a brief moment and looked like the start of a significant temporary bottom formation...
Monday’s session was a doji range day with the S&P 500 repelled at the morning high near 2780, dropping towards Friday’s low around 2750, and then consolidating around the intraday lows for most of the day. Basically, the price action...
The first week of October morphed into an inside week within an inside month context, with the prior all-time high at 2947 repelling the advance and the Emini S&P 500 (ES) only reaching 2944.75. If you recall, heading into the week,...
The last week of June was quite weak as the stock market continued the downward momentum from the 3rd week by grinding down into the major weekly trending support zone around 2700-2720 on the Emini S&P 500 (ES) for the backtest....
Monday was a fairly fast-paced trading day. It started with Sunday night weakness at around 2740 in the Emini S&P500 that continued into the regular trading hours. Essentially, the bears accelerated the downside flush by piercing below...
The second week of June was fairly uneventful as the market did its typical stallfest/shakefest fluctuations against a major level of 2800 from the March high region.  Essentially, the market reached a high of 2794.25 intraday on...
Gold falls on firm dollar, China rate cut lends support