I’m late getting this post out – so I’ll be very brief.
Yesterday I said that the 990 level would be critical, as there looked like Professional buyers stepped in at this level on Tuesday. Well on Wednesday we opened at 990 and rallied from the "get go". FOMC days are usually quiet in the morning – but not this time.
Emini Support and Resistance Levels (Emini 15 minute)
The Better Sine Wave caught the 990 low on Tuesday. On Wednesday we also got very nice "Pull Back" (PB text on the chart) and "End of Trend" warning signals.
Those "Pull Back" and "End of Trend" levels at 1,000 and 1,010 will be critical for Thursday. For the uptrend to continue we need to hold at 1,000.
My Better TRIN systems are starting to signal Short entries so the uptrend might be losing steam – but nothing surprises me about this rally.
Good luck with your Emini trading.
