Monday, January 30, 2012
ES Futures Morning Session 01/30/12
Interestingly, as negative as the market appeared at the open, the $TICK did not reach - 800 this morning. It did reach + 800, however.
Usually, the first test of support or resistance, or the first correction in a possible trend change is usually the most profitable entry. The $TICK is a good indicator to spot when the correction or test is about over - see the arrows on the top 1-minute chart. Wait for the $TICK to go back to its long term moving average, then look for a continuation of the short term trend.
Charles
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