HOW OUR DAY WENT: The early weakness was reversed, but
the bounce fizzled and reversed after just missing closing
the gap on the daily chart. That set up a short for our
group, and the ES tumbled from 892.00 to 882.00 before the
bleeding stopped. That was right at our second support
zone at 882.50-881.50 on the ES. That was a great spot to
cover shorts, and begin to nibble on the long side with a
tight stop. The ES rallied to 888.00, then pulled back to
updated support at 895.00 before turning up and testing
the 892.00 high for the day. After nailing that test of
the high, the pullback held the 888 updated support and
then went range-bound going into the last hour, playing
ping-pong between resistance and support.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, July 07, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment