Here is an hourly chart of the December S&P e-mini futures. I last commented on this market here.
As you can see the market has been stalling today at 1350 resistance. Since we have seen two consecutive days of uncorrected advances I think it is likely that a brief reaction to support at 1340 will develop. After that the next step upward should carry to 1360.
2 comments:
Carl, just want to thank you for your great blog. I have been using the methods you have been showing with some good success to date. Most of my failures seem to be related to lack of discipline on my part rather than failure to predict support, and hopefully I can correct that sooner rather than later. Again, many thanks and keep up the great work!
Carl,
I think as today SP will top therefore such a retracement is not very likely. I think the price will return around 1354-55 that is a Fibo extension. A fall downto 1340 is very likely after topping.
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