Wednesday, February 11, 2009

PreMarket Review 02/11/09

The market is back into that wide support zone of 800 to 850.

Sometime $TICK momentum precedes market price movement. For swing traders, when there is this type of $TICK - Market Price divergence, it is time to liquidate positions and reverse course. With volatility and emotions calming down, the market is slowly returning back to the normal 2 - 3 day short-term cycles.
24 Hr Globex Pivot: 837.50
Day Session Pivot: 836.75
10-Day Average Distance From 0930 ET Open: 20.08
10-Day Standard Deviation of that Distance: 9.24

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