The Dow E-Mini
20160923 - Today was a calm day so I took up some time to sketch out the Dow YM E-Mini.
Here's a 90 Day look back that includes the Brexit Event. Prior to the Brexit, price had been stuck at this level since the 3rd Quarter of 2015 with adventures south thanks to the China Meltdown and the 2016Q1 Correction (oil wipeout).
After Brexit, price catapulted into white space between July to August, what I would call the Barnacle Island with it's own area of high volume. During the Z16 contract rollover liquidated to the top of the Brexit activity and proceeded to do business for the first three weeks in September welding together the Base Camp to The Barnacle Island.
Which gets us today, September 23 when price returned to the Barnacle Island. Technically, price can stay here until the cows come home during the upcoming elections (historians would support this), or price can continue climbing into the heavens (the commoners would love this), or price can reject life on this northern barnacle island and head back south (Fundamental Leading indicators would suggest that scenario).
Guess we'll have to watch the road from here...
The zoom out view for reference
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