One of my systems is giving me a turning point signal on a multiday time frame. Do you guys think they will allow it to turn down? I expect pretty low volume tomorrow but it might be interesting anyway.
yes, looks like globex open for equities until 11:30 am EST tomorrow and will re-open at the normal 6:00 pm for the overnight session. YM is closed until the night session tomorrow. Probably quiet until Friday AM -- we will see if er2 has hit the wall on this run -- it didn't trade well today, imo.
What indicator do you use? This is what I have: (1) It is trading near the top of the recent uptrend channel, trading at the resistence levels. But seems to me it could go to 690-700 to hit the channel line, but definitely need a strong bull to do so. (2) Triple top. (3) CCI is at 200 (CCI extreme hook, sell signal). Broke the uptrend line on the CCI slope (sell signal). http://www.tinypic.com/view/?pic=hrlts1
As far as today's trading, it had some huge divergences since the start of the afternoon, could be one of the reasons for the pullback in the last hour - lack of momentum.
RSI is over 95%, extremely overbought, ready to fall by looking at its past history, the volume is also down: http://tinypic.com/view/?pic=hrmnmh
Stochastic momentum and MACD momentum points more room to go up in the long-term after dips or consolidations, they're not topped:
Aroon indicator: Bulls are taking some profit, but bears are not stepping up. Wait until the RED line (bears) hits the bottom and start to move up over 30%, green line (bulls) moves below 70% level, then a big pullback would be in making. MA dervatives are hitting the overbought level. 669.6 is the target to get back in if there is a dip. http://tinypic.com/view/?pic=hrn47l