Here is a 30 minute bar chart of the e-mini day sessions for the past two weeks. I think a supply shock just hit the market (red arrows). We had an unusually wide range down bar accompanied by volume higher than any bar but one (which was an up bar) during the past nine days.A supply shock from a top lower than 876 means that the market is probably headed for the 750-775 zone. But it will be important that going forward the market stay below the level at which the supply shock began - 841.50.
3 comments:
Mr Futia- I have been watching your blog for awhile and wish to express my appreciation to you for your willingness to share your thoughts and actions. This material is interesting.
That looks interesting.. I am wondering what (if anything) can be used as a criterion for confirmation of supply shock.. perhaps a 30 minute bar close below the low of the supply shock bar??
Very interesting. What program do you use for getting these charts?
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