Monday, February 9, 2009
Early Bird Gets the Worm
The pivots never lie as the suggested support buying zone on the Emini S&P 500 @ 850-55 was perfected! Only problem....the darn thing happened in the wee hours of the morning. There was a beautiful bid all day under the market as the bears tried to knock the market down. It was continually being saved until the last 15minutes where they sold the futures into the close. Looking at the high prints for the day, you can see the 875 and its importance that the bulls get the market to close over that pivot. No cigar today for them! I really hope some of you were able to capture some of these moves either the early buy trade or you took a deep breath and sold into the rally under the 875 area. Cheers! Back tonight with some thoughts!
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