Choppy profit taking on Friday and we get a long Memorial Day weekend. But we need the 1,050 level to hold and we're coming into a cyclical down turn on the 135 minute chart. I've turned Bearish.
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HIGH DEF VIDEO – MAY TAKE 15 SECONDS TO LOAD
Hilbert Sine Wave and 135 minute Chart (11:54)
And here's the 135 minute Emini chart. We have a Cyclical down turn, Bearish volume divergence, Amateurs doing the buying – all-in-all not good.
Hilbert Sine Wave Cycle Turn – Pullback in a Downtrend (Emini 135 minute)
I'm going to be watching Sunday's/Monday's activity very closely. Are there enough buyers to stop us breaking 1,050? Good luck with your trading.
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