Wednesday, January 2, 2013

Opening

Well the 1 min futures chart improved since this morning's earlier post, but it IS NOT in line with price, meaning it is not giving us solid confirmation which makes this move up shaky.

This is the move we were expecting, the call positions should be nice and green. You may want to wait for an opening indications post in about 15 mins so we can see what the market averages look like, but you may also want to consider some partial profits if you have really big gains here.

Early trade tends to be faded during the day, that doesn't say anything about the close, we'll have to monitor underlying trade.

Here's an idea of what ES/NQ futures look like now.

 ES 1 min improved, but 3C is not (at least not as of now) making a new high (confirmation).

It's roughly the same with NQ (NASDAQ futures).

Remember, this is what we were looking for.

I'll post opening indications as soon as the charts catch up-usually about 10 a.m. we have a pretty good idea.





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