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The updated 60 minute eMini chart highlights what a good job the modified DMX indicator did in identifying the bottoming taking place yesterday. The modified DMX is the Directional Market Index indicator, and I use the version from Jurik Research. I do however, make a slight change to it (that’s the “modified” part) so I’m not running the Jurik indicator straight out of the box.
The top of the 60 minute channel is at 1287 and the 135 minute channel is close to that at 1292. Anything is possible after today’s Fed announcement at 2:15 EDT.
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