Here is a 30 minute bar chart of the last two weeks' e-mini day sessions. I think the market will put in a range of about 30 points tomorrow. My best guess is that the low will be near 825 and the high near 855 (blue rectangle). Of course the employment number is coming out at 8:30 am tomorrow and could through this calculation into a cocked hat.
Nonetheless, I don't think the number will change the direction of the trend. The worst I see on the downside is a 28 point break from today's high. I still expect the market to reach 875 next week (green line). Once the 875 level is reached I think the next reaction will find support near 805, the midpoint of the reaction from 830 to 775 (purple dotted line).
2 comments:
What are your benifits of being a day trader rather than a swing trader?
Carl,
Were you always a bull? Did you ever play the bear side? I'm sorry, but I got in here on the late side, do tell us or me.
Post a Comment