Day Trading the S&P Emini Futures 01/12/09
The S&P E Mini Futures contract closed down today. After a down day on Friday, we did most of the work between the 23.6% and 38.2% retracement level closing above the 23.6% level and the support level of 860. If the S&P can hold the 860 level then this bodes well for a short term bottom that has been put in. The markets posted supply and demand pictures that imply a turn or at least a pause while it ponders the situation. Trading was not very good today as the price actions was poor. No volume except at the open and at the close.
The Daily Swing Trades have not been triggered today.
Today the record was 4-2 in called trades. Trading 3 contracts, one would have had a profit of $100.00 following my trade management.
Trend Trades - 0-0
Scale in Trades - 3-1
Counter Trend Trades - 0-1
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I use Uncle Mike’s Trading Assistant, a software product add on for Tradestation, check it out, it will help in your trading experience.
Uncle Mike
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E mini, Tradestation, Day Trading