Friday, November 13, 2009

Update

The e-minis have dropped on increasing volume from the day's high at 1096. This has opened up the potential for a drop to 1075 or so, the lower limit of what I could see and still think a move to 1126 is underway. If the e-minis close within a point or two of 1087 and then open unchanged or higher Monday I would expect to see a bullish day Monday. A close below 1085 would make it likely that we'll see 1075 before the advance can resume.

3 comments:

pimaCanyon said...

what have you done, or do you intend to do, with your one ES long?

andi said...

market is headed to 1040 area by month end..It is clear market coudnt clear 1100 at 2nd attempt...will have to review month end configuration to see if they would try another time..

Wags94596 said...

Andi - You need to learn to be more patient.

The market did nothing unusual today and closed firm with NYSE breadth at 2198 to 900.

Monday should see continued dollar weakness and further equity strength.