Here is a five minute e-mini bar chart covering yesterday's and today's day session. Today's initial rally was only a bit more than 10 points - not sufficient to break the rhythm of the decline from yesterday's high point. So at this juncture I shall operate on the hypothesis that we have seen the day's high and that today's range will match the size of yesterday's range (blue rectangles). If so we should see today's low near 753.
Friday, February 20, 2009
Estimating Today's Low
Here is a five minute e-mini bar chart covering yesterday's and today's day session. Today's initial rally was only a bit more than 10 points - not sufficient to break the rhythm of the decline from yesterday's high point. So at this juncture I shall operate on the hypothesis that we have seen the day's high and that today's range will match the size of yesterday's range (blue rectangles). If so we should see today's low near 753.
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8 comments:
For Today:
1R @ 791.50
Pivot point @ 783.50
1S @ 770
2S @ 762
We are currently testing 2S.
thanks for the good work Carl....lets not forget it's Feb. OE...so the MMs will fool with the prices...
I am interested to see how meaningful the current SPX level is. Good job, Carl.
I really like this blog.
OX.
Dear Carl,
I have been tracking QQQQ for a long time (as my hobby only). It seems that from Monday, it is going to start its upward move. Although, chances r that it will close better today but I'm not so-sure for today. In general, market will start moving itself from Monday and I'm confidently saying that "Happy Days R Going To Be Here" once again.
Best regards,
Thanks, Carl. It was 753, right on the dot!!
I am sick of these CNBC guys; a collection of fools...the POOP pisanis, stinking power "lunch" , stupid street signs,the cramers, the larry kudlows.
is there another financial news channel?
THis market will go up big time this week or next week
Carl, Excellent you called the bottom...KK , Thanks for the Pivot points
Carl, its anonymous over here,
I just got off bashing the stupid CNBC.
the market retrogade is over... I was hoping the market would pivot at 731. it might not get there.
THis market is going up
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