Here is today's e-mini wave chart. The market has just rallied about the same number of points as its first rally of the day (purple rectangles). Since it still hasn't reached my range estimate of 678 I shorted a unit at the blue arrow. The red dashed line represents the midpoint of today's day session range. If this market is going lower I don't think it will spend much if any time above this midpoint.
Thursday, March 05, 2009
Wave chart at 1:15 pm
Here is today's e-mini wave chart. The market has just rallied about the same number of points as its first rally of the day (purple rectangles). Since it still hasn't reached my range estimate of 678 I shorted a unit at the blue arrow. The red dashed line represents the midpoint of today's day session range. If this market is going lower I don't think it will spend much if any time above this midpoint.
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2 comments:
I guess the "greatest rally in 9 months for the s&p" is on the sidelines for now. This has been one heck of a selloff though! Keep up the great daily calls Carl! Yesterday's predictions were near perfect. I'm curioius to see how the afternoon plays out. If it hits 675 range, this market is going to look horrible!
damn carl you'r on fire today!
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