Emini Trading Update – Thursday 14 Apr 2011 (13:54)
Today’s low at 1,298 was nicely signalled with “End of Trend” warning signals on the 40,500, 4,500 and 500 tick charts – simultaneously! Now you don’t see that often. But the downside is not over – still need to see exhaustion selling.
It’s just a question now of how much we rally back before the Professionals start taking profits and let it tumble back down. 1,318 to 1,320 is a critical area – probably with plenty of stops sitting there.
Quote of the day …
From Mark K.
“Hi Barry. I am sure you are busy but just want to drop you another line of encouragement about your indicators. The more I get to know them and watch them, the more confident I become in using them to trade. Today another great day two trades up three points … my confidence is growing and to my way of thinking confidence is a fair part of success in this gig.”
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