Here is a 5 minute bar chart of the e-mini activity since the pit opening this morning ( time is central standard time). Volume has been higher that at the same time yesterday as the market dropped below 850. This makes it likely that the market will drop to 835 or so before we see a rally of at least 15 points or so. In the meantime I think that 855 is going to be the ceiling today.
Wednesday, January 14, 2009
Early Observations
Here is a 5 minute bar chart of the e-mini activity since the pit opening this morning ( time is central standard time). Volume has been higher that at the same time yesterday as the market dropped below 850. This makes it likely that the market will drop to 835 or so before we see a rally of at least 15 points or so. In the meantime I think that 855 is going to be the ceiling today.
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3 comments:
I think the low will be on friday, with DOW going to 7850
Carl, your intraday postings are invaluable. With your help, I'm having a profitable day, and I just want to say thanks.
JPM in NYC
Carl, great blog!
Any thoughts on approx 840 holding as support as the 50% Fib retracement of the Nov 2008 to Jan 2009 up move?
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