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Perhaps Tired
November 4th, 2008 at 8:15pm · 3 Comments
The eMini hit the 1002-1012 target zone mentioned in Monday’s post here. Now what? There are some cracks in the 60 minute chart, with the tick cycle-trap diverging for a while now. And the eMini is near the top of its 60 and 135 minute channels, so further upside is not a high probability outcome. But the daily chart, which is of course, more important, still looks plenty healthy from a bull perspective. I wouldn’t be surprised to see one more pop to maybe hit that resistance at 1040.
Tags: General Market Commentary · S&P 500
3 responses so far ↓
1 chester // Nov 5, 2008 at 10:30 am
I’ve just recently found this place. I have found it so informative. Excellent work by Chris. I have duly made a donation. In return Chris has just sent me the June report, great read !!
2 ramparikh // Nov 5, 2008 at 5:29 pm
Chris,
With an important date coming from your July report do you see us top or bottom going into it?
Thanks.
RAM
3 tobject // Nov 6, 2008 at 2:25 am
The reports of my death are greatly exaggerated!
vive la $VIX
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