Here is today's wave chart for the e-minis. The market has put in a longer up wave after a shorter down wave. This tells me that the bulls are beginning to take control of the market. Volume has been increasing a little as the market has rallied, but still is not very impressive. We should soon see a strong move above the higher dotted line on good volume if my analysis is correct. In the meantime midpoint support at the lower dotted line should hold.
Tuesday, March 03, 2009
Wave Chart at 2:45 pm
Here is today's wave chart for the e-minis. The market has put in a longer up wave after a shorter down wave. This tells me that the bulls are beginning to take control of the market. Volume has been increasing a little as the market has rallied, but still is not very impressive. We should soon see a strong move above the higher dotted line on good volume if my analysis is correct. In the meantime midpoint support at the lower dotted line should hold.
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2 comments:
Hi Carl,
I dumped my 704.00 long and went short at 706.00.
Thanks.
Kindest regards,
PM
damn didn't hold.... hoping for a late day rally... got in thinking that was the bottom but now the market is selling off hard... AGAIN...perhaps the rally above 705 was just another suckers rally... let's see how we close... THIS IS PAINFUL!!
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