Monday, June 29, 2009

June 29 2009 Prep Overlay and ES Trades



Today was a massive 5 hour long break even + 1 tick for transaction costs. I was not onscreen for the inside Bid at around 912. This happens sometimes.

I took the short at the 924 zone and nothing happened all day. This could be pre-holiday trading already. I would anticipate a move at some point this week.

Prep was decent this morning. Did not nail the inside support exactly but it was an excellent roadmap for the day.

924 is the line in the sand for this market. An extension upward continues the uptrend and a failure will likely lead to a significant continued selloff.

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