Sunday September 12, 2010
US Emini Futures Markets gapped higher on the open Sunday.
As this alert is issued we are approaching the London open and US Markets are already just shy of our highest projected Weekly Trading Zones. These conditions, while somewhat rare, are conducive to either a breakout on the upside which has happened only 3 times since we began publishing our WTZ's, or a breakdown (more likely) which on the ES could take us to 1082/1083 by the end of the week.
As we type the ES is trading 1114.75 on Globex. Take note on the chart below that the Up Trend which began last Wednesday is now serving as resistance.
|S&P 500 Emini Futures|
A break and hold above this trend line and more importantly our highest WTZ @ 1121/1122 will present an opportunity to position yourself for a multi-week swing trade short. Be patient and wait for confirmation as this could be an epic move. If the trend line holds and more important the upper WTZ holds (highest probabilty) the downside could extend from weeks to months. Use the Bearish Cross on our 30 min chart for confirmation. If you do not have the CF_Cross indicator, email firstname.lastname@example.org. If you do not have our current charting platform -
Step #2) Install the CF_DMT from the dtPro Indicator Store.
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