These Trade Triggers Worked This Morning
We’re a tad late going to press
today as trading opportunities have been numerous due largely to trader reaction
to the fall of Baghdad, not to mention Saddam’s statue.
I’ve frankly lost count of the opportunities which
began about an hour before the regular session opened, which have occurred on 1,
3, 13, and even the hourly chart once we broke into the mid-morning 13-minute
bear cup.
Course
trade triggers have worked like clockwork on all timeframes, including micro
one-minute turns, early three-minute triggers continuing the 13- and/or hourly
downtrends, and even the more conservative 13-minute trigger continuing the
hourly.
Both markets are in downtrends on our key 13 and 60-minute charts as we go to
press, with the market currently catching its breath in the neighborhood of 13
and 60-minute lower Bollinger Bands. Keeping an eye on the relative weakness of
the Nasdaq may provide further direction alongside what have been textbook chart
signals.
ES (S&P)
Wednesday April 9, 2003 12:00 PM ET NQ
(Nasdaq)
Moving Avg Legend:
5MA
15MA 60-Min 15MA
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