Short entry at resistance was the winning trade on Wednesday

RST traders caught short entries after the SPX

(
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(
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104.23 on the 9:40 a.m. ET bar vs. the 104.22 233-day EMA, and the RST short

entry was below 104.08, declining to 103.54 before changing direction. The

(
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high on the 9:50 a.m. bar with short entry below 121.32 which declined to 120.96

before reversing to the uptrend into the close. Yesterday was month-end, and

there was a very strong program push up in the last hour. I don’t read anything

into the month-end market action, in addition to whatever role the stabilizing

played, other than we anticipated some random price action, and that is

certainly what we got the past three days and expect today and Friday going into

1220.33, +1.0%, Dow 10,482, +0.7%, and
(
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Generals. NYSE volume expanded into month-end to 1.78 billion shares with a

volume ratio of 82 and breadth +1769. Energy was up big and led the primary

sectors with the
(
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low. It was another up day for the
(
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hit. The XAU was +2.5% and the $HGX +4.0%. The rest of the primary sectors were

+0.7% – 0.9%, with none other than energy and the PPH, +1.3%, beating the SPX.

SPX above the 12/31/04 close of 1211.92 with a blatant last-hour mark-up which