Thursday 3 May 2007
Emini Daily Update: Running Out of Steam?
The Emini closed up 7.25 points at 1,508.25 on Thursday. I'm getting tired of sounding like Chicken Little or the Voice of Doom. This rally seems endless and I keep seeing signs of weakness. Well it only goes to prove the old saying "trends always last longer and go farther than you expect them to."
Today we had lower than average volume and a small range of only 7 points, showing lack of demand. We should see a "Complete" pattern tomorrow with the Hilbert Sine Wave crossover. You can read more about this pattern in Tuesday's post.
Meanwhile the Dow powers ahead …
While the Russell meanders …
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