Monday, June 28, 2010
No Clear Signal for Direction Yet
Hard to trade today unless you have a very good understanding of Algorithmic trading. There have been no clear signals. I am staying out of trades at this point, though it appears we are slightly more bearish than anything right now as the ES is trading below the VWAP, the intra-day Moving Averages are all sloping down and we have traded below the 61.8% retrace from today's high to today's low. Taking a short at the VWAP (currently at $1073.25) is not a terrible play, but really, I am staying away at this point. My broker has been making commissions today, but I haven't been able to catch any substantial moves in any direction. Market too dull, I will be patient and wait for something to develop...
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