Wednesday, January 20, 2010














- The good 'ol days seems to be back. Big intra-day moves that could translate to big profits with the right mind set and strategy.
- Today was a big downer,over 200 pts in the Am, with currencies and commodities help.
- I noticed a divergence along the big support levels of 1130 on the SPX. That offered a trigger buy with a trend-line break. My stop the 10 ema.

conclusion:
- day-trade long @1128
- Target1: VWAP/ Previous Lows (red dotted line)
- Target 2: S1
- extended Target 3: 200 ema

- All targets hit..

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

notes:
- seems like the markets forming a lower high, that might eventually lead to a breakdown below 1130. So can't hold a swing overnight yet.
- Gold is down huge, dollar strength huge. Looking to see if markets will follow..

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