Tuesday, February 24, 2009

Wednesday...Ok Bulls Your UP!

Looking toward Wednesdays trading action we are long a swing from the 755 pivot on the Emini S&P 500. As we all know the key to this bounce to be anything useful will be continuation from todays rally in which we will create a pivot low. I would be a buyer on dips in this market and will be using a break 754 as a stop on swing position. Looking at some goals of upside continuation I would be watching for a break of 778 to bring in more upside to 783, 798 and 801. I have a feeling some of the bears will be looking at the 800 area again to enter the market...so a great profit taking area if hit this week at all. Good luck and trade well!

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