The video below discusses Monday's strength in the Emini. My view is that it was the result of Exhaustion Selling Volume on Friday. After which all the sellers has sold and the Shorts had "run out of bullets".
Monday's rally did have Professional profit taking into the highs and Exhaustion Buying Volume. We've got a significant cyclical turning point approaching on the highest time frame chart (40,500 tick) and Monday's activity might persuade Amateurs to join in. Let's see how this plays out.
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Volume Patterns: Exhaustion Volume – 22 Mar 2010 (10:55)
Good luck with your Emini trading this week.