Day Trading 8/18/09
The indicies slowed down significantly after a great trading week last week. Monday was very slow but we followed movers AAPL and AMZN. Today was a scalping day only and some traders didn’t trade at all.
Right now we are waiting for the SPX to show us a clear trend on a longer term basis. It was down Monday but most of the move was during premarket trading and it couldn’t find any momentum the rest of the day. This morning we gapped back up and drifted most of the day. Our previous support of 992 is now holding as our resistance. If that level holds and the SPX turns back to the short side we may get some very nice opportunities.
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