Wednesday, September 23, 2009

Post Fed update

Here is an hourly chart of day session e-mini trading. After the Fed news the market rallied to just above the top of today's range estimate at 1075. The move up from Monday's early low has been a struggle and I think this means that the market is about to break 35-40 points from current levels. This would bring it down to support at the lower channel line and the last significant top near 1035.

Once this reaction has recharged the market's batteries I expect a swing up to the long standing target at 1120.


extrader said...

Great Job Guru!

You were right on again today... I got some short at 1075 and went with it and thinking of holding overnight!


extrader said...


I must say u know ur stuff pretty darn good its scary... Your roadmap last week of 1075-1080 was right on!


Ron said...

Very Nice Carl.........Thanks.


khoekz said...

Crazy Carl,

I want to kiss you... nice work

Loren Judson said...

I agree. Keep up the voodoo that you do so well.

BTW - Those who haven't read his book, you should!

P said...

Guess the question now is if Carl would or would not go short given this now looks like confirmation of a 30-40 point break that Carl has been expecting :)