Futures are not good index for the future :eek: .
The red lines are better .
The "M" pattern is almost completed .
The last new high was a Bull Trap, next lower lows may be Bear Trap .
If not, the Bear Market may resume.
That fractal has an uncanny resemblance to the S&P charted over the last 25 years.
Quote from mu200411:
Futures are not good index for the future :eek: .
The red lines are better .
The "M" pattern is almost completed .
The last new high was a Bull Trap, next lower lows may be Bear Trap .
If not, the Bear Market may resume.
In fact, the futures price fluctuation in the morning are typically caused by the economic data reports (this morning was the unemployment number at 8:30am Eastern time). The fluctuations are often irrelevant to underlying trend and short lived. Sometimes the fluctuation may even let you enter a position at a better price.