Monday, March 01, 2010


Here is an hourly chart showing day session trading in the e-minis. I think the market is climbing through a stack of 36 point boxes. Today it is in the process of moving into the third box. I think it will rally to the midpoint of the box near 1130, then react to the bottom of the box near 1113, and finally climb to the top of the box near 1150. By the time it reaches the latter level I expect to see the market kissing the top of the green dash trend channel I have drawn.

I still think we shall see the ES trade above the 1200 level sometime during the next three months.


andi said...

SHORT ES 1113..

Kishore said...

Based on daily charts, the plot of percentage of stocks in an uptrend has been making lower highs. And the plot of percentage of stocks in a downtrend has been making hiher highs. To me this is truly representative of the "market trend" on daily charts.

Based on the above. the rally is now out of gas. It is doubtful that we will see the third box up of 36 points.

We should see a sharp reversal to the downside, coming up!

roguewave said...

boobex lo 4.25 sat dn rt at last week's 1104 and this week's 1105 hi trendline listed marker area for week going forward

khoekz said...

Kishore, what are you talking about?

Almost all market internals are looking strong, and this is widespread in all sectors, not just here or there.

IMO, this rally has legs, and could explode to the upside at any time.

I am still long and am looking to add.

Thanks again Carl and good luck to all.

Tim Mack said...

Carl, You haven’t mentioned 3 peaks of a doomed house in awhile, what does your view from that window look like?

Tim Mack

robertlediable said...

can't access chart list

Aldran said...

I'm an European trader and here in Europe we see another market, very different.... DJES 50 is trading 2769 vs top in 01/10 at 3048 ... and now we are still minus 3% from Febraury tops.

Usually there is not so much difference... and I don't think Greece is a good reason...

I also think that as DOW claimed, all index must confirm one each other... so for me is a market without trend or a bearish one to come.

Daniel said...

This market is not looking back!

Last train...or miss the rallye to 1250!

alexnewbee said...

Agree with Aldran. DAX and FTSE are nowhere close to S&P in relative terms.