Saturday, February 20, 2010

Wednesday, February 17th Review

Today was an uneventful inside day in the market, not many setups. Market held one of the high volume areas at 1093 that was noted in Tuesday's review, during the Globex session and proceeded all the way up to 1100 which was pretty solid resistance.

IB opened up above Tuesday highs and value which is bullish, rallied back to the 1099 resistance level but couldn't maintain. Yesterday's gap became the magnet level for shorts.

We fell back into the gap fill and test of the high volume area held in globex, great low risk long trade entry. Probably the best of the day as we then proceeded to rally to close near highs of the day.

High Volume Level

Today's Market Stats
IB Range 4.25 pts
RTH Range 7 pts
Full day range 7.5 pts
Volume 1,669,958