The market gave us a nice pop up into the 754 area targeted for resistance. Shorting the market from here was a good risk reward as the pullback took us to the 739 area for a nice 10-12 point profit. The market from there seemed to take its Que from the 741 important support holding up as confirmation technicians used this today as a positive for stability in the markets. Definitely something we need for a while. The confidence took us up to close up again in the 754-55 area for a basically up slightly on the day. Over all nice day with some profits on the short. Have a great weekend and we'll look at some charts Sunday Night! Cheers!
Friday, March 13, 2009
Up, Down Go Nowhere
The market gave us a nice pop up into the 754 area targeted for resistance. Shorting the market from here was a good risk reward as the pullback took us to the 739 area for a nice 10-12 point profit. The market from there seemed to take its Que from the 741 important support holding up as confirmation technicians used this today as a positive for stability in the markets. Definitely something we need for a while. The confidence took us up to close up again in the 754-55 area for a basically up slightly on the day. Over all nice day with some profits on the short. Have a great weekend and we'll look at some charts Sunday Night! Cheers!
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