Here is an hourly chart of the December S&P e-mini futures. I last commented on this market here.
The past three days trading has occurred in a very narrow price range. In my experience bull market tops are associated with fairly high volatility, not dullness. This reinforces my view that much higher prices lay ahead.
Sometime today I think the market will find support near 1340 and then start a move to 1360. From the 1360 level a 20-30 point break is likely to develop.
1 comment:
Carl,
I think as I have stated before, Friday's high is the top of the rally and I think we will see the low at Friday. The price is now at the support line of the channel. A break and a sharp fall is likely.
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