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Another Channel Reached
January 30th, 2009 at 1:22pm · 2 Comments
eMini prices reached the bottom of the 60 minute channel this morning. Expect a pause or a bounce from these levels. There’s no divergence on this time frame or higher, but the 27 minute chart (which I never show) is set up for a rally here. Perhaps they can rally half-a-day, but even that may be too optimistic.
Tags: Day Trade · General Market Commentary · S&P 500
2 responses so far ↓
1 phaesed // Jan 30, 2009 at 4:45 pm
A bounce would be consistent with the Solitude model too (which I’m now referring to!)
2 deacon31 // Feb 1, 2009 at 8:15 pm
the crude oil solunar topped 1/30, so if it works as well as the gold turn did, that would be bad news for SP as the oilers have been influencing that index mightily all the way…
crude oil seasonal for feb about the same as this one for gold, very poor:
http://iepstein.com/Portals/0/gold/goldChart_2_01_22_09.jpg
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