Nice rally at end to bring it back to resistance levels. I see resistance at 668.50/669.00 tomorrow for the ER2 and 1238 for ES. If it closes above those 2 levels I see the bullish run continuing. Anyone else feel like the market is perched on a ledge and rallying simply because everyone expects an X-mas rally? I do not see great strength, just buying off of the oversold drop in OCT. ANy thoughts?
This is the projected price moving path for the next several weeks. It should go up in the coming days- might go to 680s, then a big pullback at the end of this week or by early next week to today's low. Then by early Dec, this one could move to 700. The cyan color line is the the projected price path. http://tinypic.com/view/?pic=fodw5c
The projected price movement for this week (does not look pretty): http://tinypic.com/view/?pic=foelic
Projected price path for the next couple days (doesn't look good). If ER2 moves as what this projected, it would be very interesting. We will compare the real one with this projected chart in a few days. http://tinypic.com/view/?pic=foeqkj
Today: POC is 664.70. Key price battling area: 664.9 and 666.6 On the downside: 664.9 662.5 661.4 659.5 On the upside: 666.8 670.3 Pivot and other price levels will be calculated when the market opens. Using my post 168 for projected price path for the day, it included the premarket prediction too.
your low target was hit exactly..this could be another flush out and now may be we can head towards 674 in a couple of days...