Here is today's e-mini wave chart. I still think the sellers control the market. The first down wave lasted longer and carried farther than the subsequent up wave. Midpoint resistance for the rally from yesterday's low to today's first hour high shows as the dotted purple line. As long as the market stays below there I think it will drop to the lower edge of the blue rectangle which represents my estimate for today's 24 hour trading range.
Tuesday, March 03, 2009
Wave Chart at 12:30 pm
Here is today's e-mini wave chart. I still think the sellers control the market. The first down wave lasted longer and carried farther than the subsequent up wave. Midpoint resistance for the rally from yesterday's low to today's first hour high shows as the dotted purple line. As long as the market stays below there I think it will drop to the lower edge of the blue rectangle which represents my estimate for today's 24 hour trading range.
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2 comments:
Nice call on the expected range. Keep up the good work Carl!
just closed the long from 694 ES.
Rick B.
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