Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Monday, October 26, 2009
After today's pit open the e-minis rallied nearly 10 points on moderate volume. This is an uncorrected move off of the Thursday-Friday double bottom near 1071. I have to respect this bullish activity since I am still expecting a move to 1120. I conclude, therefore, that this market is on its way to 1120 and that the 1050 level is no longer a likely target. If I'm right about this support at 1080 should hold. Today's high will probably be 1096 or so.