Here is a 30 minute bar chart of the past 10 days' e-mini day sessions. Volume during today's first 60 minutes was very high (green oval) and the market went straight up from its open. This is a very clear and very powerful demand shock. It is saying that the drop from 930 is over and that the market is now headed for 950 or higher.I now estimate that today's range will extend from 879 to 910 (blue rectangle).
5 comments:
I had the time slot right,direction wrong,resistance @ SPX 910,916,929,940,952 on the way to SPX 962.PB
I have 2 time slots for next week,june 1 and june 5.PB
This will be the third stab at the 930 range, will be VERY interesting if it can take it out.(on good volume)
Carl, just want you to know that your calls are SO GREAT, this is just the case of market staying irrational more than you can stay solvent, everyone is umemployed and the market climb the wall of worries .... (ps. and you're already more bullish then i like, and still the market keeps going up and up)
Carl,
Just wonder why you did not reverse to long as soon as you see demand shock??
2c
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