Friday, April 17, 2009

Range Estimate

Here is a five minute bar chart of the e-mini day session. I am sticking with my range estimate of 855-878 for today (blue rectangle). A drop from yesterday's high as big as the break from yesterday's early morning high (not shown on this chart) would carry the market to 855 (purple rectangle).

Over the next few weeks the market should move up to the 940 - the level of the early January high.

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