Friday, May 08, 2009

Update at 1 pm

Here is a five minute chart of the e-mini day session. I have moved my estimate for today's high back to 935, giving the range estimate of 910-935 (blue rectangle) that I first proposed in this morning's guesstimate.

At this juncture I think the market will hold support which I estimate now stands near 916.75, the midpoint of today's day session range (purple dotted line). I expect to see the e-minis to reach the 940-50 range next week.

1 comment:

ARJ said...

Carl,

What's your view on the max pain theory for next Friday? The max pain for SPY is currently sitting around $87.

Thanks!