Here’s What May Be In Store For The Afternoon
As we get closer to war, the E-minis are trading
at the 127.2% retracement of 853 and 788.50, and appears to be having some
trouble at this level. This suggests we may see lower prices into the close. With
war imminent, and with the recent gains, we may have some pullback here before
the shooting starts.
Further, on the 60-minute chart, we’re at the
127% extension of a significant level (853) and the recent lows. This gives
additional ammo to the case that we decline into the close, before the war
begins.
Finally, General Dynamics has pulled back to the
50% retracement of its intraday range, and may bounce soon.
Have a good afternoon, and please say a prayer for our men and women in uniform who are in harm’s
way tonight.