Friday, October 15, 2010

Market Sells

We have traded down after the open this morning and have already traded an average daily range on the ES. With a potential bottoming tail forming, the lows of the day could be in. Be cautious however, as there is not yet confirmation that the selling is over.
Posted by Verde at 10:31 AM

3 comments:

  1. VerdeOctober 15, 2010 at 10:41 AM

    Now we have a confirmed change in direction. You could consider buying the down-tick from here, just don't defend the trade if we threaten to make or if we make new lows...

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  2. VerdeOctober 15, 2010 at 10:43 AM

    By buying a down-tick, I mean at least two points down. Right now on the ES, I will consider buying the 1165s

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  3. VerdeOctober 15, 2010 at 12:18 PM

    The ES failed to continue above the low 1170s intra-day resistance. ES also couldn't confirm a move above the VWAP and is now trading below it again. ES needs to maintain price above 1166, or we will visit the lows again and possibly trade lower

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