Potential Thrust
Reversal in emini today requires a break of the 9/1 up thrust low at
1304.75. There have been 2 prior Thrust Reversals in the September
contract:
- 5/11 when the up
thrust low at 1327.25 was violated. That lead to an 84 handle decline
over 10 days from the 1341.50 high on the reversal day.
- 6/5 when the up
thrust low at 1277.25 was violated. That started the second leg of
the 5/11 decline leading to a 70 handle decline over 8
days.
If the TR is not
signaled today, odds increase for a higher high during the next week or
two.
Earl