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Resets
March 25th, 2009 at 9:26pm · 1 Comment
The eMinis seem to do a remarkable job of resetting themselves – the way a short decline like today’s allows the overbought condition to be ameliorated and set the stage for another advance. Normally, we understand that a strong trend will make the 60 minute signals impotent. Now, the 135 minute signals have been ineffective (well at least the sell signals) – which to me is a sign that this trend is even stronger than most think. For tomorrow, watch that 816.25 net-line buy level on the 60 minute chart (hourly closes on the half hour) – if it can clear that level, then the rally continues.
Tags: General Market Commentary · S&P 500
1 response so far ↓
1 sum1 // Mar 25, 2009 at 10:29 pm
Hi Chirs,
Your Modified DMX in 135 min chart is not significantly up, I mean isn’t it showing weakness or declining. I don’t know exactly how you read your modified DMX though. Pls enlighten us if possible.
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