Here is a 5 minute bar chart of day session e-mini trading Friday and today. I think the market has just staged a high volume breakout above Friday's high. I think the odds now favor staying above today's open at 832.00 but there is a more obvious support level at 828-29, the midpoint of Friday's late reaction. In either case I expect today to be bullish and I think the day's high will be around 860 or so.
Monday, January 26, 2009
Breakout
Here is a 5 minute bar chart of day session e-mini trading Friday and today. I think the market has just staged a high volume breakout above Friday's high. I think the odds now favor staying above today's open at 832.00 but there is a more obvious support level at 828-29, the midpoint of Friday's late reaction. In either case I expect today to be bullish and I think the day's high will be around 860 or so.
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