Wednesday, March 18, 2009

Update at 1 pm

Here is the updated 5 minute bar chart of the e-minis. The market broke out of this morning's trading range to the upside. It is headed for the upper edge of today's range estimate (blue rectangle) near the 783 level. Support is at the midpoint of the reaction from yesterday's 777 high to this morning's 762 low - roughly the 769 level (purple dotted line).

At the moment my best guess is that we shall see at least one 40 point break before the market moves above the 800 level.


Anonymous said...

where do you think you will dip in to buy big style ?


Anonymous said...

correct the numbers 783 and769.

moon said...

great stuff just happened upon your site. Any thoughts on timeframe of 40 point more? thanks good luck

Anonymous said...

the 40 point move--today after 2:15. Even though the fed's announcement will have no surprises..They will probably agree to print 14 Trillion dollars ..the market will want more--it always wants more

Anonymous said...

the fed may decide to buy stocks--watch out! they have bought everything else , maybe they already are buying through GS by funding them

Anonymous said...

The fed by printing money has caused a huge pop in EUR--GBP etc. Next is inflation...If the "great depression" set in because of not enough money--this one will because of too much money. Hindsight is 20-20