Here is a five minute bar chart of e-mini day session trading. My range estimate for today is 903-923 (blue rectangle). The move off of this morning's low showed good volume, but didn't have much follow through. As long as midpoint support near 909 (purple dotted line) holds I think this market will reach the top of my range estimate today and move even higher tomorrow.So far I haven't seen either a demand shock hit the market or a decisive rejection of 900 support. I still think one or both of these phenomena will develop as the market moves higher. But, if not, I will have to start looking for a lower top and a second leg down for the drop from last week's high.
3 comments:
Kudos on your present market analysis. If I were you, I would be grabbing my loaf of bread and running...LOL What branch of service were you in?? You were one good-looking dude, although I wouldn't have wanted to meet you in a dark alley...you might have beat me up..LOL
Hi Carl,
You might want to correct the link to your other blog that you have listed in your "about me" section of this blog. The correct link is:
http://theartofcontrarinantrading.blogspot.com/
Twitter is is becoming an excellent tool for traders, marketers etc...
Download a desktop program like tweetedeck or seesmic and follow Carl and any # of interesting topics. The Wall Street Journal for example " tweets" breaking news stories. Don't be foolish and dismiss it until you try it!
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