Here is a five minute bar chart of today's e-mini day session. The market has rallied to within two points of yesterday's 807 high. Since a demand shock this morning has provided the upside impetus I think that we are going to take out the 807 high later today. My revised range estimate for today is 779-816 (blue rectangle).In the meantime I don't think the market will trade below the midpoint of today's range thus far at 792 (dashed red line). In fact I think it more likely that midpoint support at the purple dotted line holds. This would make the reaction from today's high about 8 points, comparable to the 8-10 point reactions which have been common recently.
Looking ahead a week or two I think this market will soon reach the 875 level.
3 comments:
Hi carl
im still digging through lindsays
count from the mid section and im begining to make a few conclusions
that i wont know for a while now .
but it looks to me that the mid section count is a series of counts
in his example he notes the time from e to j equals time from j to a
and then notes a new point A at that point in the graph . this reminds me of elliott wave theory
and i think the 2 blend very well
which is my reason for researching this .my guess is as i research further that the smaller mid section counts will sub divided for lack of better words into a larger mid section count . this in regards to time , using elliott wave theory the smaller wave count sub divides into a larger price structure .to sum this up my bias is yet to be proved but it is that
there is several mid section counts with in each degree of price movement and once you get to the larger degree it becomes easier to define . how ever the smaller counts are very helpful
joe
Whoa 875! Optimistic Bull!
Nice
Thanks Carl.....very nice reversal and new targets. Most helpful.
Ron
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