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Back From Whence We Came
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Back From Whence We Came

by The MoleOctober 31, 2012

A quick update on the E-Mini. This morning I was lamenting that we had missed that 100-hour breach. Then I stepped out for the gym for two hours and just came back to see this:

Most interesting – we just dipped below. Also note that the daily NLBL seems to be holding thus far. It’s a bit early to jump to conclusions here but I wanted to make sure everyone is at point. It’s permissible to be short here with a stop above the 100-hour, which is doing us a favor by moving sideways.

However, I don’t think the fat lady has sung just yet. The downside range on today’s Zero Lite is very minimal. A -1.0 signal would be more promising, -2.0 or higher would be ideal. The -0.4 spikes down here speak of minimal participation while everyone is kicking the tires of the U.S. markets.

The inflection point on the hourly is valid – but I would monitor it regularly as a surprise spike would not be uncharacteristic based on prior precedence.

Cheers,


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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