A "V' pattern formed on the two leading indexes today, the last trading day for the year 2010.
Shown on the 5-min. chart the concluding chart of SPY (ES) and the DIA (YM).
A profit taking in the open!
Friday, December 31, 2010
Thursday, December 30, 2010
Observe & Trade
Traded long on YM and twice on NQ and all went to naught.
All the stop-loss got hit and didn't force any more after that.
Looking at the concluding 5-min. chart, the only viable trade is to short it (them) in the open.
Lack on conviction on the part of the bulls.
Real Time Trade Ideas
Will trail the stop in NQ to break even if it goes up by two points.
Looking for a five point gain plus at least.
Looking for a five point gain plus at least.
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