The market is at the top of the revised range estimate for today (blue rectangle). After this morning's demand shock there have been only very small reactions. This is more evidence that this shock is the real deal. I think the e-minis next reaction will be 8-10 points (purple rectangle). Midpoint support is at 902.50 (purple dotted line).I expect this market to rally into the 950-80 range during the next month.
3 comments:
910 was the flip side of the angle from the low,it should have held,strong market or lots of short covering?
Very nice call Carl.
We skipped right past 898 which should have been resistance so its a good spot for support,should resolve tomorrow.
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