Tuesday, April 28, 2009

04/27/08 Market Recap

More of a nothing day today, didn't actively trade and my portfolio ended slightly higher. As of typing this the ES is down over 13 handles and it is now at a critical point. If we see a professional gap down(+100 YM) I will look to enter some short positions. The market is still in an uptrend and there is still no reason to fight the tape. But it does look like that we might be in a topping process.

Another thing to note is that the NQ touched a key resistance level at 1385 and was automatically met by heavy selling. Bulls need this level to broken with good volume.

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