A rock solid day in the Emini Chat room.

I wrote about the reaction rally last night and like clockwork the TTZ methodology delivers. We had volume and we had buyers, and getting long from the open was THE trade

I will say that we fell a bit short of the 723 target, and that leaves the 724-734 gap unfilled for now

A slight retrace into the close today is more evidence of the reluctance for traders to hold long positions overnight
We should still see a 2nd leg up in this move, but we are still a far way from calling a bottom.

This entry was posted on Tuesday, March 10th, 2009 at 5:38 pm and is filed under E-mini Market Update. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.