imac's - mental battle - monday, page-3

Taking a closer look at the structure of the emini s&p500 the 15 minute gives 2 channels. The close managed to get back inside the tighter channel. Would be nice if it was steeper but that doesn't mean much to me. I'd like to see it stay above the 1141 (30%) level to confirm the bullish picture but based on recent performances it could easily retrace 61.8% overnight and fool Asia and be at 1170 by the open.



The 2 min show a higher double bottom early afternoon Friday and then the sell down into the close. Interestingly, after the cash index close, the contract put on 5.75 points which to me is a positive.