Here is a five minute chart of today's e-mini day session. It has been a peculiar day. I would have thought that a break above the January top at 942.75 would have attracted a lot more buyers and /or sellers than it apparently did. As far as I can tell, volume today was only moderate. I think this means that the market will have to go still higher to get sellers interested and to force the hand of reluctant buyers.In any case I think tomorrow's daytime range will be 935-955. The top end of the range is just a little above the midpoint resistance at 952 which arises from bisecting the October 2008 rally from 837 to 1067.
2 comments:
The market didnt reverse at the time slot but it sure exploded,I have 3 extensions in price from the low,927,962 and 1078,the last time extension is the end of july.Paul
SPX makes a new high, but VIX does not make a new low, and XLF does not make a new high. I'm concerned that this is a fake move.
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