Here is a five minute bar chart of the last two e-mini day sessions. The market has been very dull today, drifting lower on decreasing volume (green line) and decreasing volatility (converging purple lines). So I now estimate we shall see only an 18 point range today. The low is still projected at 772 while the high is at 790.The dullness we are seeing is in my view very bullish. Declining prices are not bring sellers out of the woodwork - a big contrast with their behavior during the past six months.
10 comments:
Carl
Great work with your charts and postings in general.
I would like to add that today is a quad expiration and unless markets are trending strongly these days tend to be quiet and low volume.
My point being, I would not make much of the volume or the price action today. Monday will tell us a lot more then today can.
JMHO.
Carl,
I havent been trading as much as you, this is my first year trading live and it has gone pretty good for me. I have a quick question?
Is the summer months dull and boring like todays action? Are the days tradeable or small 10pts rangese like today?
Thanks in advance
ex
i think ur 772 may hit, if so, good call... just hope we move up to 790 from that level to have some trades!
carl still bullish today???
i will go long on ES 771 if we get there... i have that as support and a bounce for a few pts!
Well, there is the selloff maybe you were looking for but this now looks very ugly.
Long ES 770
carl i have a tip for you, stay short and keep em until it manage to close above 800.
Long ES 66 adding to 70
ex
Carl,
Interesting wedge pattern forming to the downside. Just waiting for the breakout now.
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