Wednesday, January 07, 2009

Late Update

I thought the market was being supported by strong buyers earlier today, but after trading sideways for four hours the e-minis broke to new daily lows and dropped as far as 898.75. I think this reaction will probably reach 875 over the next day or two. If so I think that the 912 level will now be resistance above the market.
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4 comments:

  1. Anonymous1/07/2009 03:37:00 PM

    Hi Carl:

    Please post this for your readers,

    http://www.theonion.com/content/news/recession_plagued_nation_demands

    Thx,

    Rick B.

    ReplyDelete
  2. Anonymous1/07/2009 06:21:00 PM

    the market will blast through 912 easily tomorrow. like hot knife through butter.

    carlos

    ReplyDelete
  3. Anonymous1/07/2009 06:22:00 PM

    Carl,
    I am long 3Xinverse ETFs as of yesterday.
    -win

    ReplyDelete
  4. PM1/08/2009 08:00:00 AM

    Hi Carl,

    A close today below 894.50 is a confirmed sell signal. I took a short position at 896.00 just a moment ago.

    Thanks.

    Kindest regards,

    PM

    ReplyDelete