Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Tuesday, September 16, 2008
Day's Low Is In
Just before today's pit open the e-minis dropped as low as 1163. After opening at 1168 the market proceeded to rally on very high volume. I think this means we have seen the low of the day, and quite possibly a low that will hold for a much longer time than that.
In any case I think the market will soon bounce off the 1199 level, but I expect to be a buyer on any reaction from there.