The scenario posted last night called for a trend day, and to trade in direction of the econ news reaction, which in today's case, was clearly down! The plan worked out well and hope you were able to capitalize on the symmetrical down swings in the morning. Btw, 1127 was the Upper Target I posted on Chart.ly on Dec 8th (link to chart) and we hit it today.
I drove out to the suburbs earlier tonight to spend a couple of hours with my 3-yr old nephew and it's already past 12:30 AM so no Key Levels/Scenario post tonight. The key levels posted last night are still in play, except 1123-1125 is an area of resistance now. Bias is bearish below 1125, and bullish above it. Trade well!
ES 5-Minute Chart for 12/29/09 Includes Overnight Globex
12/30/09 - That 1112 was a Solid Level, and responsive buyers pushed price back up to 1122+
ReplyDeleteStructured price action!