Here is an updated 30 minute bar chart of the e-minis. You can see that the market continued to rally after my last post. It more than retraced what was potentially a supply shock today, thus eliminating that possibility. All that is left is yesterday's demand shock. This means that the trend is upwards. I expect next week (which really begins Tuesday in the U.S.) to be a bullish one for the e-minis.
Friday, January 16, 2009
Looking Bullish
Here is an updated 30 minute bar chart of the e-minis. You can see that the market continued to rally after my last post. It more than retraced what was potentially a supply shock today, thus eliminating that possibility. All that is left is yesterday's demand shock. This means that the trend is upwards. I expect next week (which really begins Tuesday in the U.S.) to be a bullish one for the e-minis.
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4 comments:
thanks Carl, have a great weekend
very much appreciate the insights behind your detailed posts since the new year began
Pitcher
Beautiful reasoning Carl - thank you for your Blog.
Would you please have a look at the two hammer candles formed at the close on the DAILY chart.
The last one made a higher high and higher low, and confirms the already-strong reversal candle of January 15th.
Your call for the emini to reach 1000 this month has a few hurdles ... Resistance at around 975 ... but is achievable in my view.
Nice to watch this unfold from here - interesting times right now.
Kind regards
Ingot54
Hi Mr. F.
Many words of yours have remained with me.., and looking at market action last few weeks, what popped up in my mind and keep spinning is when you said before the market turns price start "Boiling" wild like a iron tea pot...
I wonder if such time is before us...
I will contemplate over weekend on this quoan...
Thanks for everything, and have a nice weekend!
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