Here is a five minute bar chart of today's e-mini trading. I have drawn a blue rectangle to represent my estimate of today's range that I made this morning. I think tomorrow's range will be very similar. I am guessing that we shall see a low near 772 early in the day and then rally the rest of the day back close to the 800 level.Yesterday's buying climax set up a few days of basically sideways action. However, I don't think this market will break more than 40 points during that time. The worst I see on the downside is 765. I expect the market to resume its move to 840 sometime next week.
9 comments:
Hi Carl...Where do you see market going after 840 target is hit??Do you see rally continuing from there?? Also what is your take on the recent silver and gold move??Thanks, Janet
Hi Carl,
To let you know I closed out my long June position and went short into the close at 780.00.
Thanks.
Kindest regards,
PM
Just curious Carl, you never seem to reply to intelligent questions offered but rather to someone who offers harsh criticism.
Tremendous site but would be intrigued to see your responses to some of these questions thrown at you, not many people in this world have your background or intelligence quotient.
JK
Thanks for posting the charts along with your comments. It makes it much easier.
Carl,
You make it sound so easy that this market will move above 800 and en route to 840 by next week... I see a different picture developing... Im looking for a steeper pullback down to 750 and possibly down as low as 725...
The reason why I disagree with your up move in no time is because their are three things going on at the 800 level that i see...
1- 50MA is right at the 800 level
2- We need a trendline break at this level
3- And we have resistance from prior lows back in Jan if im not mistaken
These are the three factors im seeing right now... next week maybe a different story!
Also, tomorrow is options expire which typically is a flat market
Good Luck
ex
OE tomorrow....the MMs squeeze to get maximum pain !!! don2277
...not many people in this world have your background or intelligence quotient.....
not to spoil the party but trading has very little to do with intelligence.
dave
Hi Carl,
I just got stopped out of my 780.00 short at 779.00, that was fun for a point. Now I'm flat and will wait for my next buy signal.
Thanks.
Kindest regards,
PM
Hi Carl,
I'm here to drive you nuts. I'm now long again at 782.00. We're going higher sooner or later.
Thanks.
Kindest regards,
PM
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