Here is an hourly chart of day session e-mini trading. I remind you that activity will switch into the December contract tomorrow. Dec. is trading about 4 points below Sept. at the moment.I think the market is on its way to midpoint resistance at 1054 (red dash line). By the time the e-minis reach that level they will also be bumping up against the upper parallel of the green trend channel. For the moment I see support near yesterday's day session high around the 1025 level (red dotted line). The biggest reaction on the way up from 991 was 11 points and a drop from 1036 of that size would stop at 1025 as well.
2 comments:
Carl
I've always been a HUGE fan of your work and instruction. I just have a hard time letting winners turn to losers in short term trading,inparticular when other indications were glaringly turning south.
Best wishes,
Carl, expiration date for Emin Sept Futures is Sept 18. So, we have one more week to roll-over.
Also, I was wondering how does the difference of 4.25, Sept being more expensive than December Futures, get resolved? It is like, suddenly the market drops 4.25 points on Sept 18!
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