Here is an updated version of the 30 minute bar chart I showed you yesterday. As you can see the e-minis are creeping into the target zone of 1185-90 indicated by the green oval. I think that a break of 15-20 points is imminent. But once it is complete the ES should quickly move to and above the 1200 level.The market has been very quiet this week. I don't know of any particular explanation for the dullness. But I do know that no top of significance is likely until we see much more trading activity and volatility than the market has shown the past two days.
3 comments:
Carl,
Great commentary as always. If you are correct in your 15-20 pt break, can you make the assumption that crude oil will drop as well? Thanks, GH
Nice charts and analysis as usual.
It seems that the generals are willing to assume a few points risk these days and "front run" your support for fear of missing the move.
The stubborn shorts seem to be the fuel for the advance.
Thanks again for your insights.
Your article is always useful.
Thanks.
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