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Done for a While II
February 12th, 2009 at 12:38pm · 4 Comments
Monday’s Done for a While post outlined a series of conditions that I felt indicated a reversal lower would occur. The eMini is now making all those same conditioons, this time to the upside. A modified DMX divergence exists on the 60 minute chart as of the close of the 12:30 bar minutes ago. The four conditions necessary to pain the bar green are present. Prices have been outside the 60 minute channel and came withing 4 points of the 135 minute lower channel earlier today. The back-and-forth dance goes on!
Tags: General Market Commentary · S&P 500
4 responses so far ↓
1 phaesed // Feb 12, 2009 at 3:31 pm
Damn Chris… amazing timing on that call.
2 muellerjoerg // Feb 12, 2009 at 4:34 pm
I agree. Great call. The net-line sell on the daily will have to wait longer I guess.
Joe
3 Jon Eeles // Feb 12, 2009 at 5:44 pm
A convincing reversal. Respect.
4 Rrman // Feb 12, 2009 at 10:44 pm
yeah very good call this looks a lot like feb 5th when we rallied for 4 days that would take us into the feb 18th turn day
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