Here is today's wave chart for the e-minis. It looks like selling pressure is gradually easing. The down waves are getting shorter, making smaller inroads into new low territory, and the volume is gradually dropping with each downward thrust.A move above resistance line A will mean that the market is headed at least for B and quite possibly for C. I think the next rally will amount to 15 points or so, but it should be followed by another substantial drop.
7 comments:
Can you quantify "substantial", and time period. Thank you for the interesting insights
Carl, if a drop to 805 as you anticipate happens, wouldnt it clearly form lower highs and lows, which would imply 740 is on the cards before 1000?
Thanks!
tomorrow could very well be negative after the initial buying--bank ceo's testifying and we all know what happens
Carl, you do not have an email posted so I will leave this as a comment. Have you ever thought about having "realtime" comments. I know you will get some idiots but there is a lot of valuable knowledge out there and I appreciate your hard work and insight into the markets. i also enjoy other peoples comments to see what they are thinking too. I know you proof every comment and that must take some time but I like to read comments as things are progressing. I appreciate your hard work either way though. How about disqus?
Carl,
Great day! I have learnt a lot. Thank you for the day! Greetings from Germany,
Val
Carl,
I use your comments every day. Great work. Gratulation!
Greetings from Austria
Axel
Carl,
Being a long time follower, I'm glad to see you starting to use volume and Wyckoff waves. The increase/decrease in buying and selling pressure can give some excellent clues and early indication of a possible trend change.
Best regards
D
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