Here is a 5 minute bar chart of the e-minis for yesterday's and today's day sessions. Yesterday's late break now looks like a supply shock. This gives me a somewhat lower "line in the sand" (green dashed line) to use as an indicator of an upside trend reversal.
For the rest of the day I think today's high will act as resistance (purple dotted line). My downside target remains the 760-70 range.
1 comment:
I think we will end up about 1% higher, SPX trading at 785 at the moment. Regards.
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