Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Tuesday, June 16, 2009
Range estimate revision
Here is a five minute bar chart of today's e-mini day session. My range estimate this morning was 910-925, but the market has been building volume as it has dropped (red slanted line). So I now think there is a good chance we shall see a print near the 900 level today (blue rectangle). Midpoint support near 903 (red dashed line ) is strong and I expect the drop from last week's high to end near there.