Here is the e-mini wave chart as of 9:50 am. We have just seen a high volume breakout (green arrows) above the February 4 high at 849.50. If this is a bullish as I think it is the market should not spend much if any time trading below the breakout level (green dashed line). I think the market will reach the 870-75 zone later today.
Friday, February 06, 2009
High Volume Breakout
Here is the e-mini wave chart as of 9:50 am. We have just seen a high volume breakout (green arrows) above the February 4 high at 849.50. If this is a bullish as I think it is the market should not spend much if any time trading below the breakout level (green dashed line). I think the market will reach the 870-75 zone later today.
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