I think that is a good target. Not really anything inbetween until a little resistance around 94.75/95 on the 1h. Maybe a pull back there or sideways until the MAs catch up and push it up the the next resistance at 1305 or so.
i thinnk there is going to be a dump to about 89 coming soon. I am out till then, and will get back on for the rally.
@atticus A good call is a good call I apologize that I was not looking at what you were looking at. That was very egotistic of me. June contract is still turning it out and looks like a lot of steam still there for tomorrow!
Hard to be too bullish about tomorrow. The bigger trend is still down until proven otherwise. First big rally in a bear move usually fails. If it sets up, a test of today's high tomorrow would probably be a short. ( IMHO) Would like to see 1296-1298 in any case.
There is steam for tomorrow one way or another long or short. Bigger trend is down and has yet to be proven otherwise. On Daily chart bigger trend is down. Short term on the 30 min chart (June Contract) bigger trend is up with the ability to test a pivot @ 1296.75 on Daily Chart the pivot is @ 1312.50 (June Contract) and the market may or may not get to that level. EMG 1298.25 looks to be a good short level but yet to be determined until/if the market reaches that point.
Tons of buystops between1296 and 1302. That many in this and other forums are shorting and exiting early confirms the soundness of the trend day/longer 3 day trend.:eek: May sound cynical, but that's what's for dinner.