Monday, March 29, 2010
Update
I plan to carry my long position overnight. Today's range broke Friday's high and was concentrated in the upper part of Friday's range. Since Friday's low occurred at good support as depicted in this chart I take today's activity as evidence that an up swing has started. The initial upside target is 1184 and I expect the ES to have traded much higher than that by the end of April.
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4 comments:
Carl,
(IMHO)Think this Easter week market will consolidate and then move higher. Just my op.
Usually isn't there a big down day right after Easter? (or is that a big up day?)
jack
That's the past, the problem is the market has to be traded forward.
Carl, where should the money come from to move indexes higher? it is not a secret, that recent moves ocurred due to MBS purchase by the FED. it is over by now.
after end of the month window dressing - look below..
Hi Carl!
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Our preferred direction that we published Wednesday afternoon for Thursday:
We prefer to play Long in the NASDA100 index.
(As a curiosity, our preferred directions were correct 100% during the past 13 Days, though
one day, March 25, Thursday we did not have preferred directon as the predictor output data was clearly Neutral.
Our preference detailed in the comment section of the Daily predictions.)
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Joe Papczun
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