Trading Day Thursday, July 30th

Hello Traders, Wow!! What an exciting market day today with a good bit of movement in both directions. The market started off with a 11.5 point gap to the upside to open at 983.75 and quickly reached its low of the day at 981.50 which did not close the gap but only made a minor dent in it. Within the first hour got to its high at 994.00 and move sideways into a "wedge" pattern. The last half hour of the day it broke thru the bottom of the wedge and headed back down to where it started to end the day at 982.50. One of the interesting things about the move down late in the day was the volume pickup as it did it. This morning volume move up was at 75K contracts in comparison to the move down which was at 85K contracts. Hum!! Looks like that gap is soon to be closed. We shall see what tomorrow brings. Have a great day and remember to always use stops.
LauraQ


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