Thursday, June 04, 2009

Range estimate revision

Here is a five minute bar chart of today's e-mini day session. I think we have seen the day's low. Why? The first pair of green arrows points to a selling climax bar. The second pair points to a wide range, high volume bar that took out the high of the selling climax bar. This looks like a definite rejection of the low at 928 so I think the market is going higher from here.

Volume today has so far been relatively low. And tomorrow the employment numbers will be released at 8:30 am. So I think today will have a more modest range than I initially expected. So I have revised my range estimate to 928-945 (blue rectangle).

I believe that the e-minis are now on the way up into the 965-980 range.


Jim said...


Nice call

Enky Nakamura said...

941 and rising! good call King Carl:)