Tuesday, December 15, 2009













- Initiated a short with the break of rising wedge..
- a break of S1 support will initiate a nice correction..
- today's lows taken out, so Lower Lows setting up..
- Eur/usd strength now up 500 pips on the week, that's huge, and looks like it could initiate a stock market correction.

conclusion:
- short @ 1105 , 2 point stop...
- target 1 - s1 @ 1101
- target 2 - s2 @ 1093..

Tally:
+4 ES pts( $200/contract)

notes:
- Tick was strangely caught in a range, even with the last hour drop. It seemed to signaled a low participation in the decline , that was confirmed by the pop back into the 1105 area:
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3 comments:

  1. MMDecember 15, 2009 at 12:44 PM

    target 1 hit.. holding the rest for target 2..

    ReplyDelete
  2. MMDecember 15, 2009 at 12:46 PM

    this time 1100 might not hold, too much negative forces against it

    ReplyDelete
  3. MMDecember 15, 2009 at 12:49 PM

    stops @ break even to protect gains on initial position .. free ride, now is off to the golf course :)

    ReplyDelete

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