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The Last 60 Points

January 4th, 2009 at 7:54pm · 1 Comment

The first chart below is the 135 minute published last Monday with the eMinis at the 863 level. My goal with these eMini signals is to try and catch the next 25 points in the S&P 500, which are worth $1250 per eMini futures contract. As the second, updated chart shows, this signal has caught the last 60 points. The blog format preserves every post I’ve made here since starting last this website last March, and readers are invited to browse back and see how I’ve done with these eMini market calls.

Yesterday’s post on tidal and solunar influences makes an argument for a possible top tomorrow. The 60 minute eMini chart shows a small early warning signal in the deteriorating modified DMX indicator. And yet, this has been a powerful move, and it looks like it will take some more work before it reverses, perhaps more deterioration during the day on Monday will presage a reversal. We shall see.

There seems to be a fair number of people who are now making bullish noises, so perhaps a trap is being set.  The Tricks Index chart is very overbought, though I’m disappointed that the developing divergence was taken out with Friday’s strong market.

click chart to enlarge

click chart to enlarge

click chart to enlarge

click chart to enlarge

Tags: Before & After · General Market Commentary · Market Internals · S&P 500

1 response so far ↓

  • 1 ramparikh // Jan 4, 2009 at 10:04 pm

    Mr. Carolan,

    Thank you for a great call again. I have been following your work for over 5 months and you have done a great job of spoting winners.

    I am hoping you have a fee based web site soon where we can have more great calls like you have been making with specific entry and exit points.

    Thank You!

    RAM

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