Oct 052012
This morning I wrote in chat “My day frame is 61/64 and 47.25/50.25. If I’m wrong and the employment report numbers beat expectations, we could see a test of the 68 top and I would adjust my high frame to 66/69. The Employment numbers beat expections and the ES bounced off 64 which it bounced off several times pre-market. The 64 area continued to hold for about 45 minutes after the open before finally making an attempt to the top. Price bounced off my secondary high frame at 66. Selling started coming in and then institutional selling kicked in. The pullback was shallow and is today’s example trade.
| Below is member only content. Not a member? Subscribe and join the discussion!. Click here to become a member |
Sorry, the comment form is closed at this time.