Aug 042010

This morning’s trade opportunity required a little bit of improvisation from the trade plan.  The ADP report took the ES up to 21.50, well above the first sort area of 17 / 18.  Because of the quick movement through on little volume, the 17/18 area was still a good rejection area which had not really been tested.  After the 10am ISM report, the ES first rocketed up to 25.25 and then came down to the 17 / 18 rejection area which now is support.  After a rotation, a good long opportunity was available.  The target would either be the next level (i.e. 19.25) or the VWAP which took a while to finally hit.

 Posted by at 1:26 pm

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