on weekly containment pts. I generally allow 5 pts. slippage, so the $SPX high is a little out of the range but if things are going to fall it will start tomorrow, time wise things are really close
So it looks like I should have waited a few more days before going short… Arrggh! I assuming here that the odds of it falling without reaching the 1191 target are slim.
Well, maybe I can get out on a dip, and re-enter once we hit the target area. It would really suck if I get out and it keeps falling without reaching the 1191 level…
similar setup to the $DJI/DIA weekly containment chart i posted yesterday, unlike the $DJI, $SPX has not reached it's purple containment yet that will be in the 1191 area this week.
you'll notice on the chart $SPX back-tested max contain (teal line) in it's november low so the only back test it needs is of the gold line that will be in it's previous low area by the end of April
June S&P E-mini Futures: Today's range estimate is 1169 – 1182. The ES should reach 1200 in April on its way to 1225 or so.
1166.25 -1177.50 actual last Thursday (11.50 points) 1180.50 high last night 1169-1182 estimate for today (13 points) 1177 currently, so estimate is -8 to +4 from here (bearish)
on weekly containment pts. I generally allow 5 pts. slippage, so the $SPX high is a little out of the range but if things are going to fall it will start tomorrow, time wise things are really close
So it looks like I should have waited a few more days before going short… Arrggh! I assuming here that the odds of it falling without reaching the 1191 target are slim.
Well, maybe I can get out on a dip, and re-enter once we hit the target area. It would really suck if I get out and it keeps falling without reaching the 1191 level…
Sounds like a little more upside to go. Thrilling! Thanks.
All things are possible )
Here's a view of $SPX weekly contianment pts.
http://www.flickr.com/photos/47091634@N04/44927…
similar setup to the $DJI/DIA weekly containment chart i posted yesterday, unlike the $DJI, $SPX has not reached it's purple containment yet that will be in the 1191 area this week.
you'll notice on the chart $SPX back-tested max contain (teal line) in it's november low so the only back test it needs is of the gold line that will be in it's previous low area by the end of April
Of course I would like to see Carl wrong on this call… Save that 1200-1225 for the summer months please.
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1169 – 1182. The ES should reach 1200 in April on its way to 1225 or so.
1166.25 -1177.50 actual last Thursday (11.50 points)
1180.50 high last night
1169-1182 estimate for today (13 points)
1177 currently, so estimate is -8 to +4 from here (bearish)
use the google translator on the page red it is on the left column
From the looks of futures, doesn't look like we are going to gap down in the morning.
Thank you for the info and Red for your thoughts as well. I will be studying closely. Hope you all had a great weekend!