Emini Trading Update – Wednesday 26 Feb 2014 (18:59)
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And yet another inside day, showing indecision. We’re cycling around 1,846 on the Emini – we still have 1,856 marking the top of the channel and 1,836 marking the bottom. Yesterday and today we couldn’t even get through 1,851.
When the market “winds up” like this, sometimes I think I can feel the Professional manipulation – where they’re driving price to wrong-foot Amateurs. But these last couple of days, it’s as if the Professionals don’t know which way they want to be pointed either. They’re equally uncertain of where we’re going.
Paul Tudor Jones used to say that Volume follows Price. That is, Price breaks out and then the Volume comes in to chase and hence support the move. We’ll see – although I hope we don’t get yet another inside day tomorrow.
Anyway, the video has a nice example of a “triple break” – when Support (or Resistance) on the 3 timeframes are very close together and get broken all at the same time. Leads to big, fast trend moves.
(and yes, I’m talking way too fast again – frankly like a raving lunatic)
Good luck with your Emini trading tomorrow.