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E-Mini

 

10/26/11

Today’s EU meeting is sort of like being out of credit (local) and calling up an out of town bookie

3:27EST

ESZ11:

Out of tune; but I can’t figure out which note is missing; for example we should have bounced at 1220.75/1221.75; or headed down to 1212.50; we did neither.

The bigger picture:

The decline still hasn’t reached the immediate term OAV (BB) at 1214.50; therefore its still quite bullish

Never the less until we reach the compression detachment at 1243.50 we don’t know that much.

I was looking for a pullback at 1240.50/75; but the closer we near the close the less accurate these reversal/pullback patterns are.