Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Thursday, January 22, 2009
New Demand Shock
Here is a 5 minute bar chart of the e-mini action today. I think a demand shock just hit the market - it started from the 816 level. This means that the short term trend is definitely upward now.
I was trading from the short and obviously suffered a pain but glad that I kept my stop in at 821.
Crazy as it seems I think a measured move target is for at least 960 depending on what points you choose. I think I'm being conservative. An optimistic target is for 900.
Here is a 5 minute bar chart of the e-mini action today. I think a demand shock just hit the market - it started from the 816 level. This means that the short term trend is definitely upward now.
I was trading from the short and obviously suffered a pain but glad that I kept my stop in at 821.
ReplyDeleteCrazy as it seems I think a measured move target is for at least 960 depending on what points you choose. I think I'm being conservative. An optimistic target is for 900.
Bullish bias cancelled on a move back below 820.
loving the intra-day posts, Carl. The charts are especially helpful. Thanks!
ReplyDeletehehe, i am long the dow, reversing the trade at 8500-8600 (or maybe even 8750) for a trend to 6500 on monday/tuesday
ReplyDelete