Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Wednesday, October 31, 2007
The Fed news dropped the e-minis to 1533.75 where the bulls took over and rallied the market up to 1558.75 (so far). I think the implication of this action are bullish if we look ahead more than a week, but I also think the market is due for a 25 point break and that the 1564 level is likely to be resistance and the starting point of the decline. So the next trade I make will probably be on the short side.