Here is today's e-mini action as of 3:30 pm. At the moment the afternoon rally to 778.75 does not look like a demand shock. It was concentrated into a short, 15 minute time span - a real demand shock would show much more persistent buying than that. A drop below the red line at 762 would be another reason to think we have not seen a demand shock.On Monday I would take strength above the dotted purple line, the midpoint of today's range, as good evidence that the short term trend has turned upward.
4 comments:
Carl:
You're rocking in '09!
Have a nice weekend!
Rick B.
Carl,
thank you for the week! Always grateful for your explanations how you view market's action at a particular moment. Greetings from Germany, Val
Carl, I am a new follower from Spain. Thanks for your help. Your guess of 752 as the low pushed me to open long in a moment that I was doubting to open. I wish in the future I will be able to help others in the same way you do.
Best regards from Spain
Enrique
You keep looking for bullish scenario yet like you switch your view for gold to long I am not sure why you have not switch your view to bearish instead of looking for demand shock because stocks are not worth much right now way overvalued.
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