Day Trading 8/19/2009
Wednesday, August 19, 2009 @ 04:08 PM Author: Anthony
The SPX gapped down and appeared to be continuing its drop from Monday after a pullback Tuesday but SUPRISE!, we shot straight back up to 1,000. We are right back within our previous range with 992 support and about 1,013 resistance. My expectation now it that we’ll continue the bounce as we have done every time the markets try to break support.
As you might expect, our trades on the long side worked the best today. That will continue to be the case as long as we continue our bounce. Mornings are also still where most of the momentum is at at least until after Labor Day.
ShogunTrading.com
