The passage this evening of Obamacare no doubt had a lot to do with this, but it's all in the charts anyway. I will have my short hat on tomorrow.
Monday, March 22, 2010
ES Forecast for 3/22/10
Well, it appears that we have finally stopped climbing the wall of worry. As you can see from the daily ES chart below, it's been basically nothing but up since putting in that big hammer on 2/25 at 1055 (red vertical bar). Now look at the far right edge. The last bar is still being formed - it reflects the overnight trading into Monday morning as of 1 AM EDT. The two bars before are a classic doji, indicating a possible change of direction and a down candle confirming the doji. Tonight, all three futures are lower by non-trivial amounts. ES is now almost 6 point down from Friday's close.
The passage this evening of Obamacare no doubt had a lot to do with this, but it's all in the charts anyway. I will have my short hat on tomorrow.
The passage this evening of Obamacare no doubt had a lot to do with this, but it's all in the charts anyway. I will have my short hat on tomorrow.
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