![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjk-gsJ04Yl8aUvzSv4TgdJSe0rwRcNcCXWesFkypfuE46I1pMPFLhDAEHcStr0gMca0NIxyLR9bvGekzRLTUyCui5LJ46aB1Pfk9mRqASDWeKzqFM7arLIa-yrTMjw0i6USya5Hg/s400/101101+1220+pm.jpg)
Here is a five point box, one box reversal chart showing e-mini action going back to the early July low. I have drawn two trend channels of equal width, one on top of the other. I often do this when the market shows signs of emerging above the higher channel line of a rising channel. It is a good way of obtaining an upside projection when the market starts to accelerate in the middle of an extended move.
The purple arrows represent my general expectation of the e-mini's likely behavior over the coming months. I am looking for a breakout above the April high at 1216, then a reaction to the middle line, and finally a strong move to 1300 or above during the first quarter of 2011.
1 comment:
Thanks Carl...
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