Here is the wave chart for the e-minis covering yesterday's and today's day sessions. I think the short term trend is upward because of this morning's demand shock. As you can see the market has settled into a 10 point trading range at yesterday's high point, evidently waiting for tomorrow's employment number. If the bullish tenor of the market is to be maintained we should see support at the 835 level (purple dotted line). The market should not spend much if any time trading below there.Next upside resistance is at 880. This trend should carry the market well above the 900 level before it is interrupted by a reaction lasting a week or so.
2 comments:
Thanks Carl~ I saved this as my wallpaper for a quick visual reminder each morning as the day progresses-It would be good to do this each day~
Have Fun! :<)
Carl,
a 33yr novice to the markets, watching eminis in the evenings after work from Germany.Many thanks for letting us watch how you trade free of charge.Also studied maths.Sincerely,Val
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