Clicky

E-mini Executors: Last Trading Day of The Month, First Day of Blogging

Friday, May 29, 2009

Last Trading Day of The Month, First Day of Blogging

The day started out with opening range being the high of the day and making a 5 dollar range down to 90600.  Followed by a rally taking out opening range  by 2 bucks squeezing out the shorts.  Then proceeding to making new lows at 90225 coming up short of the 20 day moving average 90100 and holding.  I also have an extension (an area of good support or resistance) at 90100. Below that my next short term support is at 89825.  To the upside I  have extensions at 91550 and 91725. If they violate either the upside or downside extensions we could have a big move.  Not to mention everyone under the sun ist talking about hitting the 200 day moving average in the cash at 92850.  The e-mini 200 day is at 91840.  So if that gets violated I believe you will see a rally up to the cash 200 day.  Even though I think they have to sell the market today.  I am not overly anxious to selling dips.  Wait until the last half hour of the day.  (I think they need to sell them because they bought them the first day of the month.  That is usually how it works.)  Keep selling rallies at short term moving averages below opening range.  If they get above opening range sit on your hands for awhile to see what they do.  Don't be too greedy and get out for small profits until they show their hand at the end of the day.  

No comments:

Post a Comment