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Back Where They Came From
September 9th, 2008 at 9:42am · No Comments
All indications are that the bailout inspired eMini rally has reached its end. The 60 minute chart shows prices bumping up against the top channel (now 1270) early today. The tick cycle-trap on the 60 minute chart is particularly weak and the modified DMX on the 135 minute chart is rolling over. The channel bottoms are at 1214 (60 minute) and 1222 (135 minute). There’s plenty of room below for prices to return back where they came from!
Tags: S&P 500
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