Monday, March 08, 2010
The e-minis have traded in a 4 point range thus far today. The market is unusually quiet. It has been my experience that temporary tops occur when activity is relatively high, not when it is relatively low. So the market's dullness makes me think that prices have to advance further before a reaction as big as 20 points can develop. For the time being I see support in the 1131-33 range. I think we shall see the e-minis trade above 1150 during the next couple of days. This would be a breakout above the January 11 top at 1148 and should bring with it a noticeable jump in activity.