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“..for my next trick.”
October 29th, 2008 at 11:48am · 3 Comments
Actually, there is no ‘next trick.’ The job here is to perform workmanlike technical analysis and navigate the still treacherous waters. Here’s the short-term picture on the ever-popular eMini contract. The mini paused this morning at the top of the 60 minute channel and is now ready to run to the top of the 135 minute channel at the 1000 level. I’m showing the daily chart today for the first time in a long time, as it’s reasonable to assume the eMini will attain the top of the daily channel in this run as well. That number is now 1115, but dropping at the steep rate of 15 handles per day. I’m thinking price and this channel may meet at the 1040-1046 area, where there is some prior established resistence.
Tags: Day Trade · General Market Commentary · S&P 500
3 responses so far ↓
1 bill // Oct 29, 2008 at 6:57 pm
Chris, have you ever correlated your work with the Lowry Reports 90% days. Those days seem to represent panic days. I realize that there can be muliple occurences of those days but it would be good to know when they might possibly occur ahead of time.
2 jeff // Oct 30, 2008 at 12:59 am
I enjoy your work. What kind of software do you use for analysis?
3 chris // Oct 30, 2008 at 7:14 am
The gray charts are from TradeStation. Most of the indicators are customing programming I’ve done myself.
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