There was some aggressive e-mini selling early in today's pit session. Volume was a little higher than yesterday's at the same time. However the market never really got going to the downside and has since put in the strongest rally of the session so far. This is more evidence that buyers have taken advantage of today's break and are willing to hold their positions in the face of some bad news and a little adverse price action.
These clues suggest that later today we shall see a move above the 920 level on increasing volume. If this happens I'll be looking for move to 965.
5 comments:
bet the farm! it's going to 1400 by end of this year
carlos
Carl
This new year price action is tricky isnt it!!!
I do admire the manner in which you flip your opinion; that is trait of a true student of the markets!
Keep up the good work and moreover your admirable character!
Jim
this pullback should be bought with both hands. everyone thinks 1000 is max for this move up, but i think 1400 is the MINIMUM !
carlos
currently 903.5 for emini's, i calc the following: 887 low, 921.5 top, 869 low, then rally above 942. Or the following sequence: 866 low, 904.5 top, 848 low, then rally above 942.
This market is gonna come off like a prom dress. Down to 850 within the week!
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