Tuesday, July 7, 2009

PreMarket Review 07/07/09



I will start marking up the 5 minute chart the same way that I mark the 30 minute and daily charts, showing areas of equilibrium with well defined support and resistance levels. I didn't trade the last 30 minutes yesterday, but that up bar on the bounce off of the VWAP line would have been a good long trade with an entry near 888.75 and a risk of 1.5 points.



The cash market is being like a butterfly fluttering around the 2009 open price.



Currently, 891 may act as support.

Charles

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