Hilbert Sine Wave (Emini 699 tick)
Emini closed up 48.50 points at 1,370.25 today. Wow, what a day. Trend days usually close on their highs and today was no exception.
Plenty of entry opportunities on pullbacks. I use the Hilbert Sine Wave to identify these, but any stochastic would work on days like this.
Where to from here? After a huge day like today the market will likely consolidate tomorrow. Probably cyclical activity rather than any strong trend moves.
There was some high volume (churn) at the end of the day and so we could see some profit taking until support is reached. The high volume will come back in once that support level is identified. Good luck with your Emini trading.