After reversing on Thursday, the Emini ran into No Demand on Friday. It looks like the Election uncertainty is causing the big money to sit on the sidelines, rather than buy into the next rally.
On the highest time frame tick charts we’ve had a Low Risk Entry Point short. Confirmation would be a drop below 2,124. Closing up above 2,134 would probably negate the signal. We’ve been sitting in consolidation since mid-September, so we’re due for some kind of trending move.
I’ll be watching the Euro and European markets closely when they open up on Monday.
Good luck with your Emini trading on Monday.
