Here is a five minute bar chart of e-mini day session trading. The market has been quiet today, even after it broke below yesterday's low at 887.75. This is characteristic of corrective moves and tells me that the sellers are running out of ammunition.I think tomorrow's range will be 875-895 (second blue rectangle). There is no sign of a bullish rejection of support so I still think the e-minis will drop to 870 or so before starting a big rally.
3 comments:
Guesstimate on June 23, 2009
September Carl Futia Futures: Strength above 3000 book sales rank will mean that a move into the 1000 zone is underway. I had underestimated this market's strength. In the event, sales took off. There is no sign of a top.
And I hope that Dr. Futia has great success on his blogs and in book sales.
Carl, you deserve more than a few bucks for all your smart and hard work. I am a buyer of your book. Thanks!
Great insights. Do you trade overnight or mainly stay focused during normal trading hours?
Thank you
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