The S&P 500 Index finally closed above its 50-day moving average. However, it is still below the August high and staying in a sideways channel. As the ES futures climbed to the August high, daily range has been trending down. Traders are being cautious as the dreaded third week of October nears. Traders are also awaiting for the unveiling by the end of October of the European plan to tackle their debt crisis.
Good articles on the "Floor Trader Pivots."
Pivot Point Trading Tutorial
What a Professional Floor Trader Taught Me About Trading Pivots
Floor Pivot Trading
Charles
No comments:
Post a Comment