Tuesday, April 26, 2011

headed higher

Here is an hourly bar chart showing e-mini trading going back to the March low at 1241.25. If the move up from the April 18 low matches the size of the first leg up it will carry the market up 95 points from 1290.25 to 1385 (blue dash rectangles). The top of the trend channel (green dash lines) I have drawn will be in that neighborhood about 10 days from now.

I think this bull market has much further to run. I am looking for Dow 14,000 and S%P 1500 by mid-summer.


Nav said...

No Trader on this planet can give wiser advice or better
insight ,shared here.
I appreciate you!

dcatlowpj said...

Carl, good stuff. There is an AB=CD pattern I see that brings this upward pointing Wedge into a pullback. Run that upper range of the first box and copy and paste that range with the upper region into the intermediate zone and there is still a possibility of a pullback (shallow in range, height)...the AB is drawn from the intermediate top (upper right of first box) and downward to the lower left edge of your second box.