Pre Market Tao Thurs 08-27-09

ES E-mini Futures
Asymmetrical Triangle could break up or down. Triangles occur in the 4th wave of a 5 wave structure.
we could expect a break out to the up side to complete the final wave 5.
Buy above the 1038 or sell below 1018.. price is at Apex so we should see a break out this session.


Jobs and GDp report where not helpful in defining direction.

Asia was weak Europe was soft
The US Dollar is holding steady

News tape is modestly biased Bullish
Bond Auction at 1pm est .
so far open looks like a yawner.