ESU09 – E-Mini S&P (Last:876.00)

The Mini did its tricks today.  It first made the bulls happy and then the bears joined the party and danced for a while.  Then came the double bottom on the 15 min. chart and the bulls jumped on the band wagon.   A look at the chart will show that there is a price objective, P, at 883.90 then another point at 893.00. From current highs price would have to go through 870 to start a retracement down with the first price objective at 862. The night session will give a clue as to what will happen in the morning along with some earnings reports. On the daily chart pressure is trying to turn up and apply positive movement to price.  (IT)