Tuesday, February 2, 2010














- Haven't traded since the breakdown of the rising wedge just because it fell so far so fast, and confused as to what kind of markets are trading bull or bear.
- Anyway today was a fantastic day with great set ups,which i did play multiple contracts to maximize a beautiful setup on the 5 min and a bullish wedge break on the daily.
- The EMAs were all in alignment 10>20>50 ,VWAP held(blue dotted lone), an up-trending MACD and oversold state in the daily.

conclusion:
- Day-trade buy @ 1087 stops lows of the day, target R1 and then R2
- All target hit for a nice handsome gain for the day.

Tally:
+10 ES points ( $500/ contract)

notes:
- I'm actually looking for a lower high set up on the daily for a swing trade to the downside going forward given the markets retraced far enough to warrant a possible lower low or a lower high. Interesting to see what tomorrow brings since we stalled right at spx 1100..
If this hold 1120 is possible.

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