Here is a 5 minute bar chart of today's e-mini trading.I think the market just experienced a volume climax (red arrows). Sometimes these indicate the immediate start of a rally. Other times the market moves a little lower on reduced volume before starting a rally. In any event the rally potential is now only to the 837 level (dotted purple line). The downside target (which probably won't be reached until this afternoon) is the dashed purple line at 823.
1 comment:
Carl,
Today is another example of the slow bleed to the abyss. The small guy trader (short term or long term) is getting punished as each day passes. Wonder how people got in the other day when the market went up (trap) 3.5%. I say there's more downside ahead. We need a capitulation day and it's coming soon to your local markets.
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