Wednesday, June 17, 2009

Bearish reading in first 30 minutes today

Even though we are near important options expiration support in the S&P500 at 90.00 -

There is a very negative setup occuring here this morning where we should be selling any rallies of 50 Dow Points or 5 ES points. 902.5 is the low for ES, so enter short at 907.50.

Lower stop after 30 minutes to entry/breakeven -

Target 7 pt profit.

10:12AM

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