EMD-2007-07-26-TRADING-PLAN
Lower highs/lows continue, breaking through some important support. Medium term outlook is still bullish, but short term bearish. 890 is now resistance while 883 is support. Looking for rallies to short.
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7/26/20077/25/2007EMD-2007-07-25-TRADING-PLANNear support at 896 and 899. A rally to 905 would give a possible short entry. Watching for this setup.
7/23/2007EMD-2007-07-23-TRADING-PLANLooks like a low failure is about to be confirmed by the lower high. Will wait for the pivot to finish before placing shorts. Break of 919 would be the pivot finishing.
7/20/2007EMD-2007-07-19-TRADING-PLANInverted Head and Shoulders pattern failed, giving better odds to downside trades. A lower high confirmed the low failure on lower timeframe. Watching a rising channel for support or break for more downside.
7/17/2007EMD-2007-07-17-TRADING-PLANBack with a change in trading instrument. Due to the change in the exchanges on the ER2 in September, volume may or may not be affected. In any case, we’ll leave it until it settles down. In the meantime, S&P 400 MidCap emini is the next best substitute due to its similar behavior, volatility, and tick and price size. Inverted Head and Shoulder breakout in play, confirmed overnight with a pullback to become support at neckline. Buy here with target at 965.
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