Friday, January 23, 2009


Here is an updated 5 minute bar chart of the e-minis. A reaction earlier this morning carried the market down nearly 10 points (first red rectangle). A reaction of similar size from 825 would carry down to 815-16. Note also the purple dotted line. This is roughly the midpoint of the preceding reaction and such levels often provide support in an ongoing trend.

So I think that the reaction that started from the 825 level today will end no lower than the 812-16 zone.


Unknown said...

Are you watching Gold? just hit 895...touched 899 i believe

Anonymous said...

Gold is going to down, this is a dead cat bounce, dont even think to buy it, you still have 10 minutes to take a short, 900 will wanish on sunday opening