Robin Mesch: September Outlook, E-MINI S&P500
By Robin Mesch - Wed 05 Sep 2012 13:09:09 CT
Related Keywords: Equity Index

While Bulls have been in control for the bulk of August, the critical question to ask is “how well are they doing?”  What does it mean that the Bulls have given it their best shot and still failed to separate from April’s 1420 value area top?  Given the very overdeveloped “P” shape pattern short term, the implication favors a start of the month pullback to the bottom of value toward 1385-75 in an attempt to lure long interest back into the market.  This translates to a trading range at the outset of the month between 1385-1405.  Whichever end of this range either accumulates or distributes first will determine the next directional move.  A push above 1420 this month projects another run toward 1450,  and a break below 1375 is apt to trigger a decline toward 1350. 




The charts included in this report are Price Usage charts which depict the usage of a given price over time. The vertical left axis represents price, while the horizontal axis represents time. Price Usage charts display where the market has ‘used’ price, thus accepting - or rejecting - value. The result of this market auction process are Bell Curve shaped composite Profiles, which indicate phases of development and create a top and bottom of perceived value in the market.


View All Market Commentary

*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.

 
 
 
 
Calgary Houston Chicago New York Washington São Paulo Belfast London Singapore Hong Kong Seoul Tokyo
  • © 2013 CME Group Inc. All rights reserved.
  • CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of five Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX, COMEX and KCBT.