Friday, May 28, 2010

ES Futures Morning Review 05/28/10

Yesterday was an above average range day, and today we get the usual below average range morning. This means that test of resistance especially with a $TICK divergence usually gives a high probability reversal trade. This morning the 0930 ET open, the close of yesterday and the first half hour high were the same resistance area. After 1015 ET when the market tested this area several times, we got that $TICK divergence, and the market traded down. I probably will not trade this afternoon, and start the 3-day weekend early.

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