Tuesday, September 08, 2009

Update

Here is an hourly chart of day session e-mini trading. I think the market will reach midpoint resistance at 1054 (higher red dash line) within a week or so. That short term upside target is also near the upper parallel of the green trend channel I have drawn on this chart.

Meantime midpoint support is at 1015 (lower red dash line). The biggest break in the move up from 991 has been about 11 points and a break that size from today's day session high would stop near 1014 (purple rectangles). However, my best guess at the moment is that we have seen the low of the day session and that by the end of the day the market will have rallied to 1030 or higher.

1 comment:

Sir said...

Hello Carl
Gabe Wisdom "Fallen Angel" newsletter is how I became informed of you.

I am interested.
I will follow your information and compare your strategy and belief moves with my own.

I hope to have the time to read your book in the near future.

I understand that we humans have an extremelly Short Memory and are quick to forgive, however I find it hard to believe that the consumer will revert back to the status-que spending.
The consumer just does not have the lines of EASY CREDIT.

SOMETHING NEW will have to be the "Catalysis" for NEW Corporate Earnings.

Time will tell us all just what that catalysis will be.

YOUR Thoughts are Welcomed.

Thank You