Kurt
Jun 22, 2010, 02:17 AM
Monday saw some great trading opportunities for those who were patient and waited for confirmation that the market indeed wanted to move downward. Subscribers at Trading da Numbas were cautioned at the end of last week that the S&P might be reaching for higher targets, and in fact the market reached those targets in overnight/Globex action. After seeing what were potentially five waves up into target areas, the moderators at TdN identified the key support levels which must be lost for the market to reverse its short-term direction. On the September ES contract, losing 1120 was significant and resulted in acceleration downward. ES eventually found support near 1104, after a potential five waves down.
Monday offered a decline of more than 20 points on ES, with some clear signals for entering short trades. Subscribers at TdN were prepared to jump on board!
Monday offered a decline of more than 20 points on ES, with some clear signals for entering short trades. Subscribers at TdN were prepared to jump on board!