Here is a five minute bar chart of the e-mini day sessions starting with Friday's. I am long from the red arrow. Most of Friday's activity developed between the green and the red dashed lines. The midpoint between these two lines is the purple dotted line. I am betting that the market won't spend much time below the purple line. If it does I'll get out and reevaluate the situation. I still think that it will take obvious selling activity below the green dashed line to turn the short term trend downward.
Monday, February 09, 2009
10:15 am
Here is a five minute bar chart of the e-mini day sessions starting with Friday's. I am long from the red arrow. Most of Friday's activity developed between the green and the red dashed lines. The midpoint between these two lines is the purple dotted line. I am betting that the market won't spend much time below the purple line. If it does I'll get out and reevaluate the situation. I still think that it will take obvious selling activity below the green dashed line to turn the short term trend downward.
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