Saturday, February 20, 2010

Thursday, February 18th Review

Market continued to hold high volume area at 1093's again in Globex session, moved higher and opened just below Wednesday's point of Control @ 1097. We broke weekly high during IB period which shows signs of strength. We pulled back immediately after the IB was formed, right into the magnet which is the VPOC once again @ 1097, which made for a great long setup.

The market was stuck in a flag formation throughout the afternoon session, broke to the upside and rallied into the close, once again closing at highs for the day. Resilient bulls again.

High volume areas created today:

Market statistics
IB range - 6.25
RTH range - 11pts
Full day range - 13.75
Volume - 1,831,933