"It is literally true that millions come easier to a trader after he knows how to trade,
than hundreds did in the days of his ignorance." J.L.

Thursday, July 9, 2009

ES Chart and Trading Range (updated)



Of course, not to unfold in one day.

(ADDED)
So far, lucky guess. A second failure of 884 (red box) and bounce of 876 support (green box) was expected.

Reviewing after hour charts, we are not completely overbought yet and momentum from yesterday's close can still carry into tomorrow morning.

However, in this time frame I'd like to see the market make a definitive move and recapture the old range outlined above (in blue) otherwise a test of the lows (or failure of such) is not out of the question going into OPEX week.

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