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Morning eMini Snapshot
August 6th, 2008 at 10:52am · No Comments
The 60 minute chart has touched it’s top channel, but there no glaring divergences or weaknesses hinting at a turn lower. The 135 minute is showing some lethargy in the Tick Cycle-trap, but is that enough to prevent it from nearing its top channel at 1292? The daily eMini chart is included here today as well. Here the lackluster performance of the Tick Cycle-Trap is more evident. Note too the renewed net-line buy level at 1290. For now, that is resistance. So 1285-1295 is the logical area for a top to be constructed, but there’s no sign yet of that happening.
Tags: S&P 500
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