Wave Chart at 10:30 am

Here is today's wave chart for the e-minis. The sellers are in control as shown by the length of the last down wave as compared with the preceding down wave. Volume is relatively low - a fact that is consistent with my view that this is a correction in a bigger up trend.

I am revising my range estimate for today to 810-835. In an uptrend I prefer to be a buyer on corrections unless a supply shock hits the market first. So far the low volume is telling us that no supply shock has developed. So I will be more interested in being a buyer near the 810 level than a seller near 835.