Custom Search

Friday, July 16, 2010

E-minis [Update 12:08AM]

[Update 12:55PM: Well it looks nice and gravitated to my (e) spot at major support. Down pressure is still about the same as it has been.]
[Update 12:08PM: Steep trendline down. If it can clear it, maybe a relief wave back up is coming. 
[Update 11:15AM: This is obviously the bears shot at reversing this market in a big way. As you can see, the downtrend line is important. A break over, should that happen, would be a bullish development. So far some pretty good internal down numbers going on.   But we have seen much higher internals recently as you can see.

On the flipside, this is the bulls best shot at breaking the bears. For surely if the market can hang on to upper support and reverse and the downtrend line is broken, things could get ugly for the bears.

So thats what we got. And conveniently all on an OPEX day to keep everyone wondering...
[Update 11:05PM:  Interesting pattern from the high.  Makes a valid expanding triangle at the moment. Lets see if support can hold.]

blog comments powered by Disqus