Wednesday, April 15, 2009

Looking Up

I think the e-minis have just staged an upside breakout from the trading range they established yesterday afternoon (red dashed line). It is hard to read volume indications near the close, but I am impressed by the two consecutive higher lows we saw today, each coming after a bounce off of resistance.

If I am reading things correctly midpoint support near the 840 level (purple dotted line) will hold for the next few days. I estimate that tomorrow range will be 843-868.

2 comments:

rosebud - said...

Martin Armstrong upcoming turning date is April 19th

MC said...

cool, did he specified what year though ?Cheers. MC