Here is a five minute bar chart of the e-mini day sessions. The market has rallied to the top of my estimated range for today (blue rectangle). The rally carried it visibly above midpoint resistance (purple dotted line). However volume was low on the rally, even for the time of day, and the market just put in a relatively high volume, outside bar to the downside. I think this means that the market is on its way to the low end of my range estimate.
It would take a rally above the top of the box on increasing volume to swing me around to the bull side.
5 comments:
Carl, keep up the excellent work. You do have lurkers ! :-)
Thanks for updating the range for today. Helpful.
This is test as never been able to make a comment as no blog or whatever else I need to make comment.
Hope OpenID works
Carl, what do you think of this rally? It seems to have broken higher... are we heading towards 875 now?
Carl, your analysis since the beginning of the year has been simply superb.
Thank you for taking the time to share your knowledge. I look forward to reading your Gesstimates each morning.
Best Regards,
Larry
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